The 49-year-old man allegedly deceived at least 34 “vulnerable” people into investing their superannuation funds with him – totalling at least $9,094,405 – before he left the country in 2019, according to police.
He was arrested after he got off a flight at Melbourne Airport last night and charged with 35 counts of obtaining financial advantage by deception.
Police are alleging the man worked as a financial planner around Brighton and was unlicensed.
Investigators have identified at least 34 alleged victims they believe to be linked to the man from 2014 to 2018.
Police are investigating whether there are any other potential alleged victims.
The man will appear at Melbourne Magistrates’ Court today.
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Detective Inspector Damien Jones said the arrest was a significant result for police.
“And one that highlights the malicious nature of fraud and deception related offending,” he said.
“Targeting some of the most vulnerable is heartless offending.
“This kind of offending can have life-changing consequences for the victims.”
He has urged anyone involved in a scam that seems similar to the one described in this instance to contact police.
