A former WealthSure financial adviser has been jailed after transferring around half a million dollars out of clients' accounts without their knowledge.
Brian William Veitch, of Minto in NSW, pleaded guilty to the fraudulent transfer of funds from seven clients accounts, for his own purposes, when he was an authorised representative of WealthSure.
After pleading guilty to 22 counts of using a false instrument between December 2005 and February 2010, he was handed a six year and two month jail term, with a four year non-parole period.
Commenting on the sentence, the Australian Securities and Investments Commission's (ASIC's) deputy chairman, Peter Kell, said "Mr Veitch's actions were planned and deliberate, demonstrating a complete disregard for the interests of his clients".
"The sentence shows that the court views this sort of misconduct by financial advisers very seriously."
The charges were brought by ASIC and the matter prosecuted by the Commonwealth Director of Public Prosecutions.
