A former Dunedin lawyer struck off for misappropriating almost $2.8 million from his clients now faces 33 criminal charges by the Serious Fraud Office.
John David Milne appeared in the Christchurch District Court on Wednesday facing charges relating to eliciting money from clients or associates on the premise that he would invest that money and pay them a return.
SFO acting chief executive Simon McArley alleges none of the money was invested and that some early investors were repaid with money received from later clients.
Mr McArley says it is believed Mr Milne, 78, operated the scheme from 1991 to 2012.