Hackham man, 81, to face court after allegedly stealing nearly $1m

An 81-year-old southern suburbs man “acting in a position of trust” has been arrested after allegedly stealing nearly $1m.

An 81-year-old Hackham man has been arrested and charged on aggravated theft charges, after allegedly stealing more than $900,000.

Police said the man was “acting in a position of trust” between August 2015 and March 2022, and claim he was paid by several alleged victims in excess of $913,000 over nearly seven years.

Police allege the money was to be managed via self-managed superannuation funds (SMSF) and via international investment opportunities, as well as obtaining a loan for one of the victims.

However, the man was allegedly using the victim’s funds for his own personal use.

Following an ongoing fraud investigation by SA Police’s Serious and Organised Financial Crime Investigation Section detectives arrested the 81-year-old on Tuesday.

He was charged with 10 counts of aggravated theft and one count of aggravated dishonest dealing with documents.

The man was refused police bail and is due to appear in the Berri Magistrates Court on Wednesday.

SA Police urged the public to “stop, think and check before you act,” before making financial decisions.

“Seek independent legal or financial advice from a registered financial adviser, and check to ensure the person being consulted is licenced and has the appropriate qualifications and registrations with regulatory bodies,” SA Police said in a statement.