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
Refresh

Comments   

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

Feature Video

Latest Blogs

the-silver-lining

The silver lining

George Lucas: Except at the end of 2008, when the ongoing fallout from the Global Financial Crisis (GFC) hung like Damocles' sword over the Australian economy, I...More >>
what-clients-really-care-about

What clients really care about

Ron Malhotra, Maple Tree Wealth Management : The financial planning industry has come a long way from its early origins as a product distribution industry. Just over a decade ago, you could...More >>
how-to-make-social-media-work

How to make social media work

Jodie Osborne, BT Financial Group: Social media and finance might not have started out on the best of terms, but in spite of the reluctance of the industry to embrace...More >>

Latest Comments