Elderly Man to Face Fraud Charges

November 1, 2023 9:30 am in by
PHOTO: © nampix /

A man from the Onkaparinga district has been arrested following an ongoing fraud investigation by SA Police’s Serious and Organised Financial Crime Investigation Section.

Police allege that between August 2015 and March 2022, the 81-year-old man from Hackham was acting in a position of trust when he was paid by several victims in excess of $913,000.

These paid funds were to be managed via self-managed superannuation funds (SMSF) and via international investment opportunities, along with obtaining a loan for one of the victims. Police allege the victim’s funds were used by the man for his own personal use.

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Detectives from Serious and Organised Financial Crime Investigation Section arrested the man following an investigation and charged him yesterday, 31 October, with 10 counts of aggravated theft and one count of aggravated dishonest dealing with documents.

He was refused police bail and he is expected to appear in the Berri Magistrates Court today, 1 November.

South Australia Police have issued a warning to community members to “always stop, think and check before you act”.  

“Don’t rush into financial decisions, seek independent legal or financial advice from a registered financial advisor, and check to ensure the person being consulted is licenced and has the appropriate qualifications and registrations with regulatory bodies,” SAPOL said in a statement.