South Australian adviser charged with fraud

An Adelaide-based financial adviser has been arrested for allegedly stealing $1.4 million from her clents’ investments and will face court today. 

The Commercial and Electronic Crime Branch of the South Australian police yesterday arrested a 39-year-old woman with 134 counts of theft, totalling $1,388,000.

The woman was refused police bail and will appear in the Adelaide Magistrate’s Court today.

It will be alleged that the woman was working as a financial adviser when she stole money from her victims’ investments.

Investigations are continuing, according to a spokesperson for the South Australian police. Further victims may come forward, he said – and if they do, further charges may be laid.

Update: Tina Louise McPhee appeared before the Adelaide Magistrates Court on Wednesday.

According to court documents , the thefts began in August 2006 when Ms McPhee was working as a financial adviser and continued until October 2012.

Add comment

Security code


0 #1 Advice Body 2013-07-24 10:34
Was she an accountant or member of NTAA?

Feature Video

Latest Blogs


The drop in oil price and its effect on the economy

George Lucas, Instreet Investment: Those with long memories will vividly recall how the Arab-Israeli war of 1973 and the Iranian revolution in 1979 sent the oil price sky-rocketing. OPEC...More >>

Easing the PI headache

Alice Uribe: While the industry has moved towards a fresh vision of professionalism and an exciting evolution in business models, it's still, unfortunately, being hamstrung by a...More >>

A new strategy for fixed income

Grant McCorquodale, FIIG Securities: Advisers seeking to provide a reliable income stream for clients have always grappled with a number of uncomfortable compromises and with Chinese market volatility this...More >>

Latest Comments