Lin Graham was arrested at Auckland Airport. Photo / Otago Daily Times
Lin Graham was arrested at Auckland Airport. Photo / Otago Daily Times
Police say they know of at least 30 people who have handed over millions of dollars to an alleged fraudster over the last 20 years, but there may be more who have lost their money.
James Lindon Graham, otherwise known as Lin Graham, 67, is facing fraud charges after beingarrested at Auckland Airport.
He has been charged in the Oamaru District Court with obtaining by deception, using a document for pecuniary advantage and money laundering, and is due to reappear at the end of the month.
Detective Sergeant Mike Ryder of the Oamaru police said Graham's arrest came after a number of complaints.
"What we believe we are looking at is long-term fraud that has seen many people give away sums of money in the hope of large financial reward."
Mr Ryder told the Herald police knew of at least 30 people around the South Island and overseas who had given small to large sums in "so-called investments".
Many were reluctant to see the matter go before the court because they feared it meant they would never see their money.
The alleged con is believed to be the kind known as "advance fee fraud", in which the person claims to have access to vast sums in foreign bank accounts.
The perpetrator indicates he or she needs help to pay various expenses so that the money can be released.
In return for money provided to cover those costs, the "investor" is promised a huge return on their money, often 100 per cent or more, Mr Ryder said.
Once an investor had paid their money, new expenses would arise, under the guise of further investment, such as bank fees, customs charges, international terrorism clearance charges and taxes.
"Often people are cautious about contacting police because of their embarrassment at having been taken in," Mr Ryder said. "The fraudster will always work to reassure people that a payout is only days away, and many people have given so much money that they have to believe there is some chance of getting it back."
Oamaru police want to hear from anyone who has had dealings with Graham, or given him money, as far back as the mid-1990s.
