An Opotiki woman has been arrested and charged over an alleged rip-off scheme involving an estimated $600,000 and at least one elderly victim.
Detective Senior Sergeant Greg Standen from Whakatane CIB said the 46-year-old woman faced 89 fraud charges over obtaining $427,000 by deception.
Police estimated another $200,000was involved in what was described as "cruel and devious deception spanning two years of offending and large sums of cash".
Mr Standen said an elderly Opotiki woman appeared to be the main target of the fraud and with help from her family that woman was helping with the police investigation.
"The investigation is mainly concentrated within the Opotiki district and police would like to hear from any local people who have been approached in recent times by a woman wanting cash in large sums with promises of great returns," Mr Standen said.
He said there was a huge amount of work to be completed with the investigation and early indications were that further charges would be laid and others would become involved either as victims or associated offenders.
The arrested woman is in custody and a decision on bail was due to be made in Whakatane District Court today.
Police wanted to keep her in custody and were to oppose bail.
