Man faces multiple charges for swindling $750,000 in a massive financial fraud scheme
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You might think that you know all the scams out there, but be warned—scammers are becoming increasingly sophisticated in their tactics.
Police in New South Wales have charged a 43-year-old man with financial fraud offences worth almost $750,000.
The man was arrested at a home in Marsden Park last week following an extensive investigation by strike force detectives.
He was then charged with 140 offences—including dishonestly obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.
Investigations revealed that the scam allegedly involved a Sydney-based finance company offering finance through approved merchants. It submitted fraudulent finance applications for 79 customers to purchase solar panels valued at $747,308.
It is understood that customers were unaware of these applications, which allegedly occurred between April and June.
Following the man’s arrest, police seized a number of items, including electronics and documentation relevant to their investigation. These items will undergo further forensic examination, according to police reports.
New South Wales Superintendent Gordon Arbinja emphasised that everyone has a role in preventing financial fraud and encouraged people to protect their identities online.
'We also want to urge companies who provide financial services to ensure they’re doing their due diligence in confirming the legitimacy of their customers,' he added.
'If you believe your identity has been exploited or compromised online for the purpose of illegitimate finance applications, you should contact the police immediately,' he advised.
The 43-year-old man was granted strict conditional bail and is due to face Mt Druitt Local Court today, October 18, 2023.
There are numerous scams out there, members. A hacker recently managed to steal $1.2 million from a family-owned business based in Grafton by posing as an employee from National Australia Bank (NAB). You can read more about that story here.
Another story is about a couple who lost almost $275,000 to an invoice scam after purchasing their first home in the Blue Mountains, New South Wales. You can read the full story here.
Financial fraud can have devastating and life-changing consequences for all involved. That’s why it's important to stay vigilant to protect yourself from illegal activities.
For tips on protecting yourself from identity theft and online scams, as well as stories and advice from other members, please check out our Scam Watch forum here.
What do you think of this story, members? Share them in the comments below!
Police in New South Wales have charged a 43-year-old man with financial fraud offences worth almost $750,000.
The man was arrested at a home in Marsden Park last week following an extensive investigation by strike force detectives.
He was then charged with 140 offences—including dishonestly obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.
Investigations revealed that the scam allegedly involved a Sydney-based finance company offering finance through approved merchants. It submitted fraudulent finance applications for 79 customers to purchase solar panels valued at $747,308.
A 43-year-old man was charged with 140 offences related to financial fraud. Credit: Kindel Media/Pexels
It is understood that customers were unaware of these applications, which allegedly occurred between April and June.
Following the man’s arrest, police seized a number of items, including electronics and documentation relevant to their investigation. These items will undergo further forensic examination, according to police reports.
New South Wales Superintendent Gordon Arbinja emphasised that everyone has a role in preventing financial fraud and encouraged people to protect their identities online.
'We also want to urge companies who provide financial services to ensure they’re doing their due diligence in confirming the legitimacy of their customers,' he added.
'If you believe your identity has been exploited or compromised online for the purpose of illegitimate finance applications, you should contact the police immediately,' he advised.
The 43-year-old man was granted strict conditional bail and is due to face Mt Druitt Local Court today, October 18, 2023.
There are numerous scams out there, members. A hacker recently managed to steal $1.2 million from a family-owned business based in Grafton by posing as an employee from National Australia Bank (NAB). You can read more about that story here.
Another story is about a couple who lost almost $275,000 to an invoice scam after purchasing their first home in the Blue Mountains, New South Wales. You can read the full story here.
Financial fraud can have devastating and life-changing consequences for all involved. That’s why it's important to stay vigilant to protect yourself from illegal activities.
For tips on protecting yourself from identity theft and online scams, as well as stories and advice from other members, please check out our Scam Watch forum here.
What do you think of this story, members? Share them in the comments below!
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