Half-million dollar fraud charge, NSW

A man will face court next month after a business near Coffs Harbour was allegedly defrauded of more than half a million dollars, NSW Police say.

Police attached to Coffs/Clarence Local Area Command were alerted after administrators identified a discrepancy in funds allegedly controlled by an accountant for a Woolgoolga business.

Police will allege the contractor diverted more than $520,000 into his account between 2003 and this year.

Detectives arrested a 64-year-old man at a home in Park Beach Road, Coffs Harbour, today. A search warrant was executed at the home at the time. Electronic equipment, including computers, and documents have been taken to forensic examination.

The man was taken to Coffs Harbour Police Station and charged with obtain benefit by deception.

He was granted conditional bail to appear at Coffs Harbour Local Court on Monday 13 November 2017.

/Public Release.