Two men were arrested for allegedly defrauding three investors on commercial property worth more than A $8 million.
Investigators of major fraud cases executed two search warrants Wednesday morning, arresting a 43-year-old man from Erindale and another 29-year-old man from Magill.
Police will charge the two men with fraudulently getting three investors to buy and develop three commercial properties in Adelaide between 2014 and 2017.
Both were charged with three counts of fraud and one count of illegal handling of documents.
Rob Papworth, a business and e-crime division, said the complex survey found a number of suspicious transactions through which investors in Adelaide`s commercial property were suspected of fraud.
"I am very pleased to tell you that our major fraud investigators are committed to detecting and dismantling white-collar crime and making South Australia a safer state for investors," he said.
Both have been released on bail and will appear in Adelaide District Court in June.
