fraudulent loans for his personal use.

The man operates an accounting business in Perth which utilises a funding company to

arrange loans for clients to pay their professional fees and large insurance premiums.

In May 2009, he began submitting loan applications based on fake invoices, using the

business details of his clients without their knowledge and directing the funds to his own

company accounts. He then used these funds for his own purposes.

By June 2010 the man began defaulting on repayments of the loans, which by this time

included 130 separate loan applications, with outstanding loans of almost $4.8 million.

Police conducted inquiries and yesterday (14 June 2011) charged the man with 130 counts of

Gains benefit by Fraud. He will appear in the Perth Magistrate’s Court on Thursday 14 July

2011.