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.
Class action filed over grandfathered commissions
Major law firm Slater and Gordon has today filed a class action on behalf of 500...
AFSL forced to shut down robo-advice tool
A Sydney-based licensee has voluntarily shut down two digital advice tools follo...
Closing advice gap on ASIC’s radar for 2020
ASIC chair James Shipton says he is “acutely aware” of the growing shortfall...