(ADELAIDE, Australia.) Court Report: Financial advisor Christopher Lloyd George is accused of 69-counts of deception and defrauding five owners of 170,000 from self-managed superannuation accounts could flee the country with a large sum of money, a court has heard and judge denied bail: Case will return to court in August #AceNewsDesk reports

#AceNewsReport – Jan.16: The Adelaide Magistrates Court heard the 33-year-old was acting as senior financial adviser for the victims’ self-managed superannuation funds when he allegedly defrauded five people: The court heard one victim who lives in New South Wales invested $455,000 in what he believed was a legitimate investment fund overseas which failed: Mr George then allegedly deceived the victim into believing he could recover the lost funds if he invested a further $81,000: Another man in Victoria allegedly paid Mr George a further $94,000 believing he too could recoup his losses.

A South Australian financial adviser is accused of swindling $170,000 from clients, court told

By Claire Campbell Posted:
2 hours ago
Adelaide Magistrates CourtPhoto: Christopher George appeared in the Adelaide Magistrates Court. (ABC News)

Police prosecutors told the court Mr George — who is a dual Australian-UK citizen — was an “extremely strong flight risk” who had access to large sums of money and carried false identification: The court heard Mr George had previously been apprehended at an airport leaving the country with false identification and without a return ticket.

Prosecutors alleged Mr George was a flight risk: Police have seized his Australian and United Kingdom passports, but prosecutors told the court he had connections overseas, including in Bali and the United Arab Emirates, and had the means to flee the country if he chose to…………………Mr George’s lawyer, Edward Stratton-Smith, told the court Mr George had no criminal history and the evidence of a flight risk was “sparse”.

“It is true my client has worked overseas, he worked in the United Arab Emirates for some time; it’s no surprise, therefore, that he has friends and associates overseas,” he said.

“There’s no evidence that any of them are prepared to help him flee the country, particularly when he has no passport at hand: “This is clearly a white-collar allegation rather than something that puts people in danger.”

Magistrate John Fahey refused bail on the grounds Mr George could attempt to contact alleged victims and he still had access to a significant amount of money: “Therefore, in my view even on home detention conditions he remains a flight risk,” he said.

#AceNewsDesk report ………………Published: Jan.16: 2020:

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