Malcolm Royce Jones, a 52 year old from Woodville North, faces fraud charges that are worth “millions” for allegedly stealing $170,000 from his clients as their mortgage broker.
Having admitted to these dealings that occurred in September 2012 he now faces 78 charges as a result of further findings, according to Adelaide Now.
Jones appeared in the District Court in front of Judge Jack Costello and pleaded guilty to one aggravated count of dishonestly dealing with a document, as well as one charge of attempted deception, essentially enabling him to access the cash.
Prosecutor Peter Longson said further charges would be filed as more criminal conduct has been identified.
The Advertiser reported that victims “packed the court” to see him face charges.
However, his defence lawyer Andrew Moffa, said that much of the money for the victims had been secured with inquiries being made into what can be recovered prior to sentencing. It appears that the level of compensation available is forming some of the defence case.
This article first appeared on Property Observer.