ASIC busts thief
A former insurance intermediary has appeared in court on charges that he allegedly stole more than $134,000 worth of general insurance product payments by withholding it from the relevant insurance providers.
The Australian Securities and Investments Commission (ASIC) alleges that Robert Wilson, of Victoria, stole the funds from clients and insurance premium funder BMG Finance during February 2004 and December 2005 while engaged by Mark Prolisko Insurance Agency and Overton Insurance (Brokers) Victoria.
He has been charged with 47 counts of theft, two counts of making a false document, one count of obtaining property by deception and one count of obtaining a financial advantage by deception.
Wilson was permanently banned from providing financial services at the beginning of 2006.
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