Alleged multi-million dollar fraudster nabbed trying to flee NZ

Photo / David White

Police are appealing for more victims of an alleged multi-million dollar fraudster to come forward.

James Lindon Graham, aged 67, has appeared in the Oamaru District Court facing charges of obtaining by deception, using a document for pecuniary advantage and money laundering.

Detective Sergeant Mike Ryder said Graham was arrested as he tried to leave the country.

He said the arrest in July was a result of complaints from the public.

Mr Ryder said the alleged fraud could have been going on for over 20 years.

"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 said.

He said people from around the South Island had been taken in by the alleged scam.

The 67 year-old appeared in court earlier this month and will appear again next month.

Mr Ryder said the alleged fraud is known as the "advance fee" fraud where the offender claims to have access to large amounts of money in a foreign bank.

"The perpetrator indicates that they need 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.

But the money never arrives and they are often asked to invest more money.

"These expenses can be quite imaginative but may include bank fees, customs charges, international terrorism clearance charges, taxes and many more," Mr Ryder said.

He said many people may be embarrassed that they have fallen for the scam and it is common for a fraudster to tell victims that if they go to police, the money will not come through.

"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," Mr Ryder said.

He said anyone who has been in contact with Graham should call police on (03) 433 1400.

- NZ HERALD STAFF