A third man has been charged as part of an expanding investigation into an alleged year-long fraud that saw an 88-year-old Sydney man lose more than $600,000, in what New South Wales Police have described as a shocking exploitation of a vulnerable member of the community.
Financial Crimes Squad detectives arrested 26-year-old Saidu Junior Samura at Voyager Point in Sydney’s south-west following further inquiries under Strike Force Borlase. He has been charged with knowingly dealing with proceeds of crime and was refused bail after appearing before Liverpool Local Court. He is scheduled to appear before Burwood Local Court on 12 August alongside two co-accused already before the courts.
The latest arrest follows the earlier charging of brothers George Mensah, 22, and Jesse Mensah, 25, who police allege orchestrated the fraud over approximately twelve months.
According to investigators, the brothers allegedly convinced the elderly victim to provide access to his online banking and credit card accounts after falsely presenting themselves as representatives of his bank. Once access had been obtained, police allege they transferred money to themselves and other individuals while also purchasing shares using the victim’s funds.
Police further allege that Samura assisted in trading approximately $32,000 worth of shares purchased with the victim’s money before the proceeds were used to buy consumer goods online. Those allegations will be tested in court, and none of the accused has been convicted of the offences.
The investigation began after a member of the elderly man’s family noticed suspicious financial activity and alerted police. Detectives from the State Crime Command’s Financial Crimes Squad then traced the movement of funds and identified a network of transactions that allegedly linked multiple individuals to the scheme.
When the first arrests were announced earlier this month, Financial Crimes Squad Commander Detective Superintendent Gordon Arbinja described the alleged offending as “an appalling betrayal” of a vulnerable person who had relied on others for assistance rather than expecting to become the target of financial exploitation. He praised investigators for carefully reconstructing the alleged movement of money through numerous accounts and transactions.
George Mensah has been charged with two counts of dishonestly obtaining financial advantage by deception and one count of knowingly dealing with proceeds of crime.
Jesse Mensah faces similar deception and proceeds-of-crime allegations as well as an additional charge of failing to comply with a digital evidence access order. Both men were granted strict conditional bail and are due to appear before Burwood Local Court on 12 August.
Police have not alleged that the three men acted independently. Instead, investigators contend the offences formed part of a coordinated operation targeting an elderly victim over an extended period.
The case has renewed attention on the growing problem of elder financial abuse across Australia.
Older Australians are increasingly targeted through sophisticated scams, identity fraud and relationship-based deception. In many cases, offenders first establish trust before persuading victims to disclose passwords, banking credentials or credit card details. Once access is obtained, substantial sums can be transferred before suspicious activity is detected.
Financial crime specialists say older people may be particularly vulnerable because they are more likely to trust individuals claiming to represent banks, government agencies or service providers. Fraudsters often exploit confusion, isolation or limited familiarity with evolving online banking security measures.
Detective Superintendent Arbinja urged families to remain alert for signs that elderly relatives may be under pressure or being manipulated financially.
“If you think a loved one is being manipulated or pressured into handing over money or access to accounts, please come forward,” he said when announcing the investigation. He stressed that police would rather investigate concerns early than see another person lose their life savings.
One positive outcome for the victim is that his financial institution has fully reimbursed the more than $600,000 allegedly stolen from his accounts. Police confirmed the reimbursement after the investigation was launched, although criminal proceedings against the accused continue.
Authorities say the investigation remains active and further inquiries are continuing under Strike Force Borlase. Detectives have not ruled out additional arrests or charges as they continue examining the movement of funds and the involvement of other individuals.
The case serves as another reminder that financial scams are becoming increasingly organised and can involve multiple participants performing different roles. Police continue encouraging Australians to monitor elderly family members’ finances, verify unexpected requests for banking information directly with financial institutions and report suspicious activity immediately.
