Top concert organiser who has brought Phil Collins and Bon Jovi to Australia is accused of 20 counts of theft worth $6million
- Phil Rankine, 51, has been charged with 20 counts of theft totalling $5,569,575
- Rankine allegedly took money from high profile investors between 2018 - 2019
- He brought in a string of stars to Adelaide including Bob Dylan and Phil Collins
A concert organiser who brought global superstars like Bon Jovi and Phil Collins to Australia has been arrested over 20 counts of theft worth nearly $6 million.
Phil Rankine, 51, one of Adelaide's top concert promoters was arrested on Thursday after allegedly taking money from high profile investors in South Australia and overseas.
The theft took place between 2018 and 2019 and totalled $5,569,575, police alleged.
'It will be alleged the man committed the thefts by obtaining money from the victims which was to be used for various high profile Adelaide events,' police said in a statement.
Phil Rankine, 51, (pictured with ex-wife Amity Dry) one of Adelaide's top concert promoters was arrested on Thursday after allegedly taking money from high profile investors
'Serious and Organised Financial Crime Investigation Section Detectives are continuing the investigation and further charges may be laid.'
Rankine rose to fame after winning the first series of The Block before he started his career in concert promoting.
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Some of the other stars Rankine drew in include Bob Dylan, Stevie Nicks and Florence and the Machine.
The 51-year-old was set to run a concert for Elton John last December but it fell through after one of his companies went into liquidation.
Rankine drew in a string of stars to Adelaide including Bon Jovi (pictured), Florence and the Machine and Phil Collins
The concerts were later taken over by another entertainment company.
In March this year, Rankine sold his $1.5 million home in Tranmere following his financial downfall.
Former Adelaide Crows player Mark Ricciuto claimed to be one of Rankine's many alleged victims.
Rankine was granted bail and will appear in court on August 12.
The theft took place between 2018 and 2019 and totalled $5,569,575, police allege (pictured: Rankine with ex-wife)
