Man accused of gambling away $5 million in super money

A MAN accused of defrauding 40 people more than $5 million through a self-managed superannuation fund will face court today.

Police said they had charged a Shailer Park man with 49 counts of fraud.

It is alleged the 47-year-old defrauded approximately 40 people out of $5.23 million.

Police will allege the man lured clients to invest money in a fraudulent self-managed superannuation fund over a period of time and the money was then lost through gambling.

He will appear in Cleveland Magistrates Court today.

Anyone with information which could assist with this matter should contact Crime Stoppers anonymously via 1800 333 000 or 24hrs a day.

Topics:  fraud superannuation

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