Graeme Miller: How conman fleeced clients of $1.8m

Graeme Miller came with glowing recommendations to his potential clients and he would offer them extraordinary returns and earned the trust of two NRL referees and an OBE recipient. Little did they know, however, they were being lured into a trap.

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“Well look, just $150,000 to start with,”

Those were the words of Graeme Walter Miller to an OBE recipient who worked tirelessly for 41 years and was eyeing up a relaxing retirement.

The only problem was the disgraced Northern Rivers financial adviser had no intention of investing his family’s nest egg and instead kept the money for himself.

Those are just some of the claims outlined in court documents detailing the web of deception wove by Miller, who has pleaded guilty to ripping off $1.8 million from his clients over a number of years.

Miller (right) with his two sons. Court documents state they were two of the family members who received funds from their father who had got the money from his clients. Picture: NCA NewsWire/Adam Yip

That victim, a retiree who cannot be legally named, had known Miller for some time and was promised a whopping 10 per cent return each year on his investment from the family Superannuation fund.

So he and his wife signed a cheque and prepared for a happy end to their working lives.

But, according to court documents, Miller instead cashed the cheque into his company account before transferring $79,400 to himself and the rest to other clients who were also being fleeced of their life savings.

District Court Judge Graham Woods described the manner in which he would pay back some victims with the funds of others as “a Ponzi system” during his sentencing hearing this week.

Victims had fought through tears, pouring their hearts out to reveal the pain Miller caused them in open court.

Miller faces a maximum penalty of 10 years in jail when he returns to court for sentencing. Picture: NCA NewsWire/Adam Yip

Some will now have to work into their 80s, others have family who will no longer speak to them after being referred to Miller and another said their “greatest mistake in life was meeting Graeme Miller”, the court heard.

The high-profile victims range from two NRL referees to a man given the third highest honour in the Commonwealth by Prince Charles.

“When my super was lost I had trouble sleeping,” one of the NRL referees told the court.

“I was worried if I ever was going to be able to retire.”

In some cases, Miller came with a glowing review from friends and family members.

In others, he had earned the trust of his victims through studious work assisting with the numbers in their business ventures over a period of years.

Miller sat in the dock as nine of his victims recalled how they lost their money through him. Picture: NCA NewsWire/Adam Yip

The same husband and wife who had initially handed over $150,000 had so much faith in him they again made out cheques totalling a further $350,000.

They would lose $950,000 in total.

“I’ve been working on it since December, as soon as I can get it I will get it to you,” Miller told the couple when they asked for their money back.

Miller, his lawyers this week said in court, regretted and took full responsibility for his actions, claiming they were happening in the backdrop of a serious family loss.

His nine victims were spread across the country, from Sydney to the Northern Rivers to Queensland and beyond.

Miller has pleaded guilty to six counts of dishonest conduct in relation to a financial service, which carries a maximum jail term of 10 years.

His court hearing this week heard “jail was inevitable” and when he returns to the Downing Centre next later this month it is likely he will not be returning to his home.

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