Man held in custody over fashion company fraud

November 26, 2009 by J-Wire Staff
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A man will appear at court today following an investigation by City Central detectives into an alleged fraud valued at more than $16 million.

In May 2009, City Central detectives established Strike Force Consolo to investigate allegations that a man employed by a fashion company had been stealing funds.

Police will allege between 2004 and April 2009, the 42-year-old Turramurra man fraudulently misappropriated funds from the business he worked for.

It is alleged he submitted false invoices from other companies for services and supplies which were never provided.

Following a lengthy investigation, about 10am yesterday, the man was arrested by City Central detectives and taken to City Central Police Station where he was charged with 107 counts of director/officer cheat and defraud.

Police also expect to lay a further 119 charges on him at Central Local Court today after he was remanded in custody yesterday unable to meet conditional bail requirements.

The above report from NSW police

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