A 41-year-old Menora man has been charged with 130 counts of fraud after he allegedly used the business details of his clients to apply for at least $4.8 million in loans.
The man was running an accounting business in Perth that used a funding company to arrange loans for clients to pay professional fees and insurance premiums.
Police allege he began submitting loan applications based on fake invoices in May 2009, using the business details of his clients and directing the funds to his own accounts.
The man started to default on the loan repayments in June 2010, after he had submitted 130 loan applications and owed almost $4.8 million.
Police yesterday charged the man with 130 counts of gaining benefit by fraud.
He is due to appear in Perth Magistrate's Court on Thursday July 14.Source: http://au.news.yahoo.com/thewest/a/-/breaking/9645177/accountant-charged-with-fraud/
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