Aussie man stopped from funding scammers

A 65-year-old Australian man who lost his life savings to scammers has had legal action taken against him to stop him sending money to bogus investors in West Africa.

Peter Kleinig has sent millions of dollars to Togo and Ghana since 2007, refusing to believe warnings from police and consumer authorities that his money was going to fake investment schemes.

Consumer Protection officials in Western Australia now have an enforceable undertaking with Mr Kleinig that restricts him from soliciting or accepting money from others to give to scammers who pretend to run an investment scheme in Ghana.

Acting Commissioner for Consumer Protection David Hillyard says officers took the step after failing to convince Mr Kleinig that all his money had been going to a bogus gold and silver company.

"It's extremely sad that Peter Kleinig has lost his life savings and refuses to accept that he is at the centre of an investment fraud," Mr Hillyard said.

"However, when the actions of a victim present a financial risk to other members of the community, authorities have a responsibility to step in to protect the public. That's why we have entered into this court-enforceable undertaking."

Consumer Protection officials say that Mr Kleinig has solicited money from across WA to invest in the fake company since 2009, promising them that they will be repaid their original investment plus a reward.

He took out a newspaper ad in June 2015 urging people to invest.

Police in Ghana reportedly made nine arrests in 2015 in relation to the defrauding of Mr Kleinig and his friend Fred Williams who had invested $2 million.

But Mr Hillyard said that even news of the arrests did not deter Mr Kleinig from continuing to solicit money from others to send overseas.

"Anyone wanting to invest money should not give it to Peter Melvin Kleinig, or anyone like him who is not licensed or qualified to deal with other people's money," he said.