Former Guardian FP adviser pleads guilty to dishonest conduct
A former financial adviser has pleaded guilty in the Downing Centre Local Court to falsifying 65 insurance applications in order to collect the commissions.
Susan Heathwood pleaded guilty to two counts of dishonest conduct and has been committed to the District Court for sentencing.
According to the Australian Securities and Investments Commission (ASIC), Heathwood falsified the applications between August 2009 and May 2011, collecting total commissions of $380,897.22 from the subsequent policies.
The court also heard that she paid a total of $49,275.22 in premium payments for a number of policies in order to hide the conduct.
At the time of the offence, Heathwood was an authorised representative of Guardian Financial Planning.
A total of $326,207.59 was retrieved by insurance companies in the form of write-backs, the regulator stated.
The matter was adjourned to 6 July 2012 at the Downing Centre District Court, and Heathwood was granted condition bail.
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