A former insurance company director has pleaded guilty in the Adelaide Magistrates Court to 39 charges brought by the Australian Securities and Investments Commission (ASIC).
The court heard the charges against Barry David Hassell of Athelstone, South Australia, related to his conduct between 11 March 2002 and 13 December 2011, during his time as a director of BD & WJ Hassell Pty Ltd and as a former authorised representative of a number of Australian Financial Services (AFS) licensees.
Hassell pleaded guilty to the following charges:
- – Four counts of providing ASIC with false or misleading information, including the provision of clients' files containing forged documents;
- – 10 counts of engaging in dishonest conduct, including submission to insurers of applications for insurance that contained false information; and
- – 25 counts of failing to provide a disclosure document to his clients.
Hassell will appear in the District Court on 10 November 2014 for arraignment.
Each charge in relation to providing ASIC with false or misleading information carries a maximum penalty of two years imprisonment or a fine of $17,000, or both.
Each charge in relation to engaging in dishonest conduct carries a maximum penalty of five years imprisonment or a fine of $34,000, or both, with the exception of one count which carries a maximum penalty of 10 years imprisonment or a fine of $765,000, or both.
Each charge in relation to failing to provide a disclosure document carries a maximum penalty of two years imprisonment or a fine of $17,000, or both.
