Former Sydney adviser pleads guilty to dishonest conduct
Former Sydney financial adviser, David Valvo, has pled guilty in court to one count of dishonest conduct.
Valvo appeared before Sydney Downing Centre on 15-16 October and pled guilty to one count of dishonest conduct.
He had previously been charged in April 2024 with 12 counts of dishonest conduct in the course of carrying on a financial services business, Your Financial Freedom Pty Ltd but the remaining charges were withdrawn.
ASIC alleges that between 23 July 2019 and 15 January 2020, Valvo acted dishonestly when he completed and submitted adviser fee withdrawal forms for 12 of his clients’ Wealthtrac superannuation accounts for amounts totalling approximately $110,000, knowing that the forms were not genuine.
The case was committed for arraignment mention in Sydney District Court on 15 November 2024 and the bail undertaking is continued.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions following an investigation by ASIC.
AUTHOR
Laura Dew
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