To be clear… you’re talking about committing fraud: your friend would be deliberately misleading Qantas, in writing, and in violation of their legally-allowed T&C’s, by stating that you’re a relative when you’re not. Whether or not the Qantas representative you spoke to was ok with it, it’s most probably not something that you can expect to get help with on this website. No-one can stop you from doing it, and you may well get away with it, but it’s at your own risk.
A much better solution: there’s nothing stopping your friend from keeping the points but booking a flight or flights on your behalf with those points (ie. putting you down as the passenger). Booking a flight for someone else is a perfectly legitimate thing to do with points. And it has the added benefit of not risking having both of your accounts suspended if you get found out. If, after that, you wanted to give your friend some money as a gift, there’s of course nothing wrong with that at all.