A South Australian investment manager has been charged after allegedly ripping off his customers when he was in charge of their self-managed superannuation funds.
Members of SA Police's Cybercrime Investigation Branch arrested the 33-year-old in the Adelaide Hills this morning.
He has been charged with 69 counts of deception and will appear in the Adelaide Magistrates Court on Thursday.
Police will allege the man was "involved in the management of victims' self-managed superannuation funds and was acting as their investment manager".
"The victims' investments were allegedly sent to overseas locations and initially provided strong returns," SA Police said in a statement.
"However, they could not be accessed by the victims and their funds were lost.
"The victims were then asked to provide further funds to recoup their losses."
Police cybercrime investigators urged anyone wishing to invest their superannuation in investment schemes at overseas locations or "tax havens" to be extremely vigilant.
