A Perth financial adviser allegedly stole nearly $1 million from clients and transferred it to his online gambling accounts, according to the Western Australian Police Force (WAPF).
The 38-year old adviser, who was not named but identified as a Yanchep resident, worked at Platinum Perpetual Global Private Wealth Pty Ltd.
He misappropriated about $948,237 of client funds through multiple withdrawals from their accounts in July, the WAPF alleges.
The adviser then transferred the stolen money to his personal gambling accounts, according to WAPF.
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WAPF has charged the adviser with eight counts of stealing contrary to s378 of the WA Criminal Code 1913 (WA).
He is due to appear at the Joondalup Magistrates Court on September 9.
Separate to the incident, Platinum Perpetual Global Private Wealth Pty Ltd has asked the Australian Securities and Investments Commission for its AFSL to be cancelled.