Developer Salvatore ‘Sam’ Sgherza hit with 12 new criminal charges alleging he stole more than $1.2 million from investors

AN embattled property developer who is accused of ripping off his own mother is now facing 12 new criminal charges over allegations he stole $1.22 million from investors.

Salvatore ‘Sam’ Sgherza has been charged with stealing $1.22 million from investors.

• Developer Sam Sgherza on fraud charges
• Sam Sgherza sued by his own mother
• August Towers’ Build 29 is in strife for working without licence
• And Build 29 is also being sued by Bianco Construction Supplies

AN embattled property developer who is accused of ripping off his own mother is now facing 12 new criminal charges over allegations he stole $1.22 million from investors.

SA Police have charged Salvatore ‘Sam’ Sgherza, 56, with dishonestly using cheques ranging from $8040 to $300,000 from a property investment syndicate between May 25, 2012 and July, 7, 2012, according to a charge sheet filed with the Adelaide Magistrates Court.

Court documents show that Mr Sgherza, of Adelaide, was charged on February 21 this year and could face up to 10 years’ prison on the more serious offences.

The Advertiser understands that Mr Sgherza used the cheques to pay his own debts.

He could face a potential jail term of up to 10 years’ if convicted on the more serious offences.

Mr Sgherza said he had contacted his lawyer Justin Stewart-Rattray to comment on his behalf.

The latest revelations come after The Advertiser reported the former bankrupt developer was facing 46 criminal charges filed by Commonwealth prosecutors and is being sued by his mother Anna for allegedly defrauding her of $573,000 over the sale of her West Lakes house.

The Commonwealth DPP has charged Mr Sgherza for allegedly misappropriating hundreds of thousands of dollars in the weeks before declaring himself bankrupt in August 2012.

Among the more serious charges, which carry up to five years’ jail, are that he “disposed of” $128,000 with the intention to defraud creditors before declaring himself bankrupt.

Bianco Construction Supplies is suing Mr Sgherza’s former company Build 29 — which is run by his son Sam and developed the August Towers on Hutt St — over allegations it owes $177,800.

Mr Sgherza stepped down as a director of building company Build 29 in October 31, just over two weeks after Bianco Construction Supplies issued a debt collection notice to his company.

Lawyers for have previously told The Advertiser that Build 29 will defend the lawsuit.