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Man faces court over SMSF fraud
A man faced court yesterday charged over allegedly fraudulently misappropriating more than $100,000 in superannuation funds from the SMSF of a western Sydney family.
In February 2023, detectives from Mt Druitt Police Area Command commenced an investigation following reports the SMSF of a Mt Druitt family had been fraudulently misappropriated.
Following inquiries, detectives arrested a 34-year-old man during a vehicle stop on Gertrude Place, Gosford, about 10.10am on Wednesday 26 July 2023.
He was taken to Gosford Police Station, where he was charged with dishonestly obtain financial advantage by deception, recklessly deal with proceeds of crime, and fail to notify change of residential address within prescribed period.
Police will allege in court that the man received $132,800 in funds from the family's SMSF to acquire real estate.
It will be further alleged the man transferred the money to associates to pay off debts and used the money for personal expenses.
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