Financial planner accused of pocketing more than $9 million after allegedly driving dozens of people out of retirement in ‘heartless’ plot
- A 49-year-old Victorian was arrested Tuesday night at Melbourne Airport
- He was charged on 35 counts of gaining financial advantage by deception
- He allegedly worked as an unlicensed financial advisor from 2014 to 2018
Charges have been filed after allegedly swindling more than $9 million in pension from dozens of Victorians.
A 49-year-old man was arrested Tuesday night at Melbourne airport and later charged on 35 counts of gaining financial advantage through deception.
At least 34 vulnerable victims were tricked into investing their pensions with him – amounting to at least $9,094,405 – before he fled the country in 2019, police said.
At least 34 vulnerable victims were tricked into investing their pensions with a man arrested at Melbourne Airport. Pictured is a stock photo of a business meeting
The man allegedly operated as an unlicensed financial adviser in the Brighton area from 2014 to 2018, leading to ‘life-changing consequences’.
Detective Inspector Damien Jones said the arrest was an important result for police.
“And one that highlights the malicious nature of fraud and deception associated with violations,” he said.
“Tackling some of the most vulnerable is heartlessly insulting.
‘These types of crime can have life-changing consequences for the victims.’
At least $9,094,405 was allegedly taken from ‘vulnerable people’ in the alleged Melbourne fraud. Shown is Australian currency
Police are investigating whether there are any other alleged victims.
Anyone who believes they have been scammed by the man is asked to come forward.