A man has been arrested following an ongoing fraud investigation by SA Police's Serious and Organised Financial Crime Investigation Section.
Police will allege that between August 2015 and March 2022, the man was acting in a position of trust when he was paid by several victims in excess of $913,000.
These paid funds were to be managed via self-managed superannuation funds (SMSF) and via international investment opportunities, along with obtaining a loan for one of the victims. Police identified that the victim's funds were used by the man for his own personal use.
Detectives from Serious and Organised Financial Crime Investigation Section conducted an investigation and subsequently arrested an 81- year-old Hackham man. He was charged today with 10 counts of aggravated theft and one count of aggravated dishonest dealing with documents.
He was refused police bail and he is expected to appear in the Berri Magistrates Court tomorrow.
South Australia Police would like to remind the community to always stop, think and check before you act. Don't rush into financial decisions, seek independent legal or financial advice from a registered financial advisor, and check to ensure the person being consulted is licenced and has the appropriate qualifications and registrations with regulatory bodies.
