Sydney mortgage broker Jimmy Koufos, 53, is accused of allegedly defrauding more than $700,000 from clients under the guise of National Disability Insurance Scheme (NDIS) investments.
Koufos, founder of GAP Finance, was granted conditional bail at Waverley Court on Friday, May 2, a day after being arrested at his North Bondi home.
Police allege he misused funds over five years, claiming to purchase properties for NDIS clients while using the money to support a lavish lifestyle.
While Koufos did not purport to be an NDIS officer, he allegedly charged clients fees for property deals supposedly linked to NDIS services.
One alleged victim reportedly lost her life savings, transferring $465,000 from a self-managed super fund for what she believed were defence-related investments, which police claim Koufos used “for his own purposes.”
Prosecutors said Koufos appears to have ties to individuals featured in an A Current Affair exposé on NDIS fraud, including banned provider Denise Clissold. Both were listed as directors of Kousold Property Holding, though Koufos told Nine he “never worked for” Clissold and claimed to be one of her victims.
Source: The Australian.
