Detectives from the Financial Crime Squad have charged a man following the alleged fraud of at least $9m over a four-year period.
A 49-year-old man was arrested at Melbourne Airport re-entering the country last night.
He was subsequently charged with 35 counts of obtain financial advantage by deception.
He will appear at Melbourne Magistrates’ Court today.
Investigators have identified at least 34 victims believed to be linked to a series of offending from 2014-2018.
It is alleged the man operated unlicenced as a financial planner in the Brighton area when he was not authorised to conduct business.
Police believe he deceived at least 34 vulnerable victims into investing their superannuation funds with him – totalling at least $9,094,405 – before he fled the country in 2019.
Investigators are making further enquiries to identify any further victims in relation to the investigation.
If you have been the victim of fraud, speak to police if you have concerns about a matter.
The investigation remains ongoing.
Anyone with information on fraudulent activity is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential crime report at www.crimestoppers.vic.com.auExternal Link
Quotes attributable to Detective Inspector Damien Jones, Financial Crime Squad:
“This is a significant result and one that highlights the malicious nature of fraud and deception related offending.
“This kind of offending can have life changing consequences for the victims.
“Targeting some of the most vulnerable is heartless offending and we will absolutely continue to target offenders and hold them to account.
“You will not retain any advantage – financial or otherwise – from your callous ways.
“We encourage anyone who has been subject to a scam such as this to speak to police.”
