High-profile businessman charged over $1.8m fraud scheme

A Sydney man remains behind bars after he was charged with stealing $1.8 million in a fraudulent superannuation scheme.

Police arrested 47-year-old Hamish McLaren in Bondi yesterday after a six-month investigation into fraudulent activities which began in December 2016.

Police allege he was involved in a fraudulent investment superannuation scheme totalling up to $1.8 million.

He was charged with 31 offences including knowingly dealing with the proceeds of crime.

Fashion designer Lisa Ho was in court today to see the man she blames for the upheaval of her business face the charges.

Three years ago, Ms Ho claimed Mr McLaren had conned her out of $50,000.

"I think finally justice will be served," a teary Ms Ho told reporters today.

McLaren was refused bail when the matter was briefly mentioned at Waverley Local Court today. The matter is scheduled for another mention at Central Local Court on September 12.

Strike Force Garigal detectives say the investigation is ongoing and have urged anyone with information to contact them.