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.