A man will face Newcastle Local Court on Tuesday after allegedly defrauding three people of more than $1.5 million in Coffs Harbour.

Detectives began investigating the 59-year-old in 2018 over alleged fraudulent activity being conducted.

Police allege the man coerced three men to invest in fraudulent business ventures, totaling $1,589,000 between February 2013 and December 2015.

The man was arrested at a home in Mordue Street, Jesmond and taken to Waratah Police Station where he was charged with nine counts of dishonestly obtain financial advantage by deception.