A man who worked as a fraud investigator for a telecommunications company has been arrested for alleged fraud and cash embezzlement during his employment.
NSW Police today said they had arrested a 44 year-old Wyee Point man following an 18-month investigation.
The police force said it had been contacted by an unnamed, Sydney-based telecommunications company after it discovered alleged misappropriation of 120 mobile phones as well as embezzlement of cash payments.
The man is claimed to have fraudulently distributed the mobile phones to professional sports players, clubs and others from 2008 to 2012.
Police said they believed those accepting the phones were told the devices were either a gift from the telecommunications company or a part of a sponsorship deal.
The police also allege that the man embezzled funds by not passing on payments he received for his work onto the company.
The man is no longer employed with the telecommunications company.
He has been charged with 68 offences including 28 counts of fraud, 35 counts of obtaining benefit by deceipt, three counts of embezzlement and two counts of intenting to defraud by using false or misleading statements.
He will appear at Wyong local court on August 26.
iTnews is seeking further details.
More to come