Former financial adviser charged over $3.3 million fraud

A former financial adviser will appear in court today charged following an investigation into a multi-million-dollar fraud.

In March 2020, officers from North Shore Police Area Command received reports of an alleged fraud committed against an 86-year-old woman.

As part of their investigations, police received information about other alleged victims.

Following extensive inquiries, detectives arrested a 42-year-old man at Chatswood Police Station just after 8.15am on Friday 7 May 2021.

He was charged with knowingly deal with proceeds of crime intent to conceal and 18 counts of dishonestly obtain financial advantage by deception.

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.

The Artarmon man was granted conditional bail to appear at Hornsby Local Court today (Wednesday 26 May 2021).

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