AN ARMIDALE woman accused of a $2 million fraudulent investment scam has been denied bail in the NSW Supreme Court.
Sandra Henri Edmonds has been behind bars since her arrest by Armidale detectives in late-July, and it’s where she will remain following a bail hearing in Sydney on Thursday.
Justice Robert Hulme refused Edmonds’ bid for bail in the Sydney court, ordering the 57-year-old be remanded in custody while her fraud charges are before the court.
The Leader revealed Edmonds’ arrest in late-July, before she was denied bail in Armidale Local Court by Magistrate Michael Holmes who said she was an unacceptable risk of failing to appear, committing a further serious offence and interfering with witnesses.
Strike Force Amaranthus – an operation by Armidale detectives – alleges the 57-year-old pocketed in excess of $2.1 million from 20 different people between 2014 and 2018, some of whom are in Armidale.
Edmonds, an Armidale conveyancer, is accused of operating the investment scam involving the sale of company shares, the court heard.
Detectives allege Edmonds falsely represented an investment opportunity to victims and deceived them into handing over sums of cash before using the money for personal use.
Following a long-running investigation, detectives claim Edmonds deceived “numerous victims” of $2.1 million.
She is yet to enter pleas to 22 charges of dishonestly obtaining financial advantage by deception.
She will return to court in September.
According to her LinkedIn profile, Edmonds is a certified practising conveyancer and a Justice of the Peace and formerly worked for two Armidale firms.
The Leader is not suggesting the firms knew of Edmond’s alleged offending and detectives allege she acted alone.