New South Wales broker banned
The Australian Securities and Investments Commission (ASIC) has permanently banned a former OAMPS insurance broker from providing financial services.
ASIC banned New South Wales woman Anastasia Hronopoulos after an investigation revealed she had forged insurance documentation, failed to effect insurance for clients and allocated clients’ funds inappropriately.
OAMPS brought the matter to ASIC’s attention upon discovering irregularities in Hronopoulos’ accounts.
ASIC alleged that between October 2002 and August 2005, Hronopoulos received money from her clients intended to be used to effect insurance policies, but were instead used to pay the claims and debts of other clients.
Hronopoulos also allegedly breached financial services laws by creating a number of false instruments that deceived her clients into believing that they held certain insurance when they did not, ASIC said.
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