Financial planner faces 27 dishonest dealings charges
A former Port Pirie financial adviser has appeared in court on one charge of deception and 27 charges of dishonest dealings with documents, brought by the Australian Securities and Investments Commission (ASIC).
Trevor Wayne Carll, of Port Pirie, South Australia, was an authorised representative of three Australian financial services licensees at the time of the alleged offences.
ASIC alleged that Carll deceived two clients of these licensees about how he intended to use documents bearing their signatures, and dishonestly arranged for the clients' assets to be held as security for his personal margin loan facility.
It is also alleged that on 27 occasions, Carll presented false documents intended to deceive Macquarie Bank Limited into releasing funds to him, some of which he paid to his clients.
If convicted, each offence would carry a maximum penalty of ten years imprisonment.
The alleged offences occurred between 21 June 2004 and 20 May 2010 while Carll was an authorised representative of Financial Wisdom Ltd, Financial Planning Services Australian Pty Ltd, and Genesys Wealth Advisers Ltd.
The matter would return to Port Pirie Magistrates Court on 25 October 2011.
Recommended for you
The corporate regulator has announced its first adviser banning of the year with the permanent ban of a Queensland-based former adviser that was sentenced to seven years’ imprisonment.
The Australian financial advice industry has risen by more than 20 advisers this week, with nearly half joining WT Financial and Sequoia.
Two financial advice professionals have shared their tips for success when building an effective Professional Year program as more advisers look to bring on junior staff to their practices.
Numbers are in for 2024, with Wealth Data confirming how many advisers left during the calendar year and which business models saw the largest growth in terms of new licensees.
