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


Why the life risk reforms may not be good for clients

Wayne Leggett, Paramount Wealth Management: Assistant Treasurer Josh Frydenberg's reform proposals for the life insurance industry are, effectively, a legislated reduction in commission rates with a commensurate extension of the...More >>

Risk insurance industry reforms

Brad Fox: The former Labor government, in excluding life insurance commissions from FoFA, made two very clear points. The first was that commissions have a role to...More >>

A wrap for MDAs

Stephen Romic, DFS Advisory: There’s a misconception that managed discretionary accounts (MDAs) are primarily suited to investors and advisers who want to invest directly in an actively-managed portfolio of...More >>

Latest Comments