A former financial adviser who worked in Sydney’s CBD allegedly defrauded multiple clients a total of almost $3.3 million.
The 42-year-old Artarmon man was arrested at Chatswood police station on the morning of May 7.
Police began investigating in March 2020 after reports an 86-year-old woman had allegedly been defrauded. Police have since received information about other alleged victims.
“Police will allege in court that the man, who was employed as a financial adviser at a Sydney CBD business, defrauded clients of a total $3.92 million between May 2017 and March 2020,” NSW Police said in a statement.
The man has been charged with 18 counts of dishonestly obtaining financial advantage by deception and one count of knowingly dealing with proceeds of crime and intending to conceal that it is proceeds of crime.
He is due to face Hornsby Local Court on Wednesday.
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Sarah McPhee is a breaking news reporter with The Sydney Morning Herald.
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2021-05-25 20:58:11Z
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