Adelaide Hills man to face court over elaborate, overseas superannuation scam
An Adelaide Hills man has been charged with 69 counts of deception after he allegedly scammed his victims out of their superannuation funds.
Police & Courts
Don't miss out on the headlines from Police & Courts. Followed categories will be added to My News.
An Adelaide Hills man will face court over an elaborate superannuation scam, in which he allegedly invested his victims’ funds overseas.
Officers from the Cybercrime Investigation Section arrested the man, 33, on Wednesday morning and charged him with 69 counts of deception.
It is alleged he acted as the victims’ investment manager to send money overseas “and initially provided strong returns”.
However, the victims could not access the funds, which were eventually lost.
It is further alleged the 33-year-old then asked the victims to provide more money to recoup their losses.
He was refused bail and will appear in the Adelaide Magistrates Court on Thursday.
Cybercrime investigators have urged people wishing to invest their superannuation in overseas locations or tax havens to be “extremely vigilant”.