A man will face Newcastle Local Court today, accused of defrauding three people of more than $1.5 million.
Detectives began investigating alleged fraudulent activity by the man in January 2018.
Just after midday yesterday, police attended a home in Mordue Street at Jesmond, where they arrested the 59-year-old.
He was taken to Waratah Police Station and charged with nine counts of dishonestly obtaining financial advantage by deception.
The man allegedly coerced three men in Coffs Harbour to invest in fraudulent business ventures totalling $1,589,000 between 2013 and 2015.
Police allege all the funds were taken for personal use.