Financial planner pleads guilty to deception

ASIC/financial-planning/macquarie-bank/australian-securities-and-investments-commission/

3 July 2012
| By Staff |
image
image
expand image

Trevor Wayne Carll has pleaded guilty in the Adelaide District Court to one count of deception and two counts of dishonest dealing with documents.

Carll, a former Adelaide-based financial planner, was caught out by licensees who brought his dealings to the attention of the Australian Securities and Investments Commission (ASIC).

Carll deceived two clients about the intended use of documents signed by them and arranged for their assets, totalling over $900,000, to be held as security for his personal loan margin. He also provided false documents to Macquarie Bank in an attempt to release his clients' funds.

He is yet to be sentenced for the offences which occurred between 31 May 2005 and 16 October 2008 while he was an authorised representative of Financial Wisdom and Financial Planning Services Australia.

Each sentence carries a maximum penalty of 10 years in gaol.

Carll previously pleaded not guilty to one count of deception and 27 counts of dishonest dealings with documents.

ASIC banned Carll from providing financial services in February 2011.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND