South Australian adviser charged with fraud

Written by Tim Stewart Wednesday, 24 July 2013

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

room-to-co-exist

Room to co-exist

Mai Platts, BetaShares: I recall a meeting I had with a financial planner roughly three years ago where I asked “How familiar are you with ETFs”? The response...More >>
professionalism-process-and-peace-of-mind

Professionalism, process and peace of mind

Andy Marshall, Zurich Financial Services Australia: Financial planning and the professionalism of the industry is under challenge. The challenge is not from existing clients who are actively engaged in the advice...More >>
advice-from-a-robot

Advice from a robot?

Stewart Bell, Audere Coaching & Consulting: Many years ago, I worked on a team whose job it was to choose the financial planning software for a number of aligned dealer groups....More >>

Latest Comments

  • Focus on service, not fee, post-FOFA

    Thanks for your personal marvelous posting! I definitely enjoyed reading it, you could be a great author.I will remember to bookmark your blog and will ...
    29 Aug 20:30  
  • Product sales pervade graduate programs

    Tim, I agree with what you have said but I wonder if removing APL's will make a major difference as there are already dealer groups offering significantly ...
    29 Aug 14:50  
  • Industry funds vow to denounce commissions

    More hot air and BS from a desperate, insignificant little man who has completely lost the plot and lives in cloud Cuckoo land. It's time the media ...
    29 Aug 14:36