An investigation by the Australian Securities and Investments Commission (ASIC) has led to a former NSW insurance broker being charged with 10 counts of dishonest conduct and deception.
Appearing before the Downing Centre Local Court in Sydney, Scot Weston was committed to stand trial on all 10 charges.
The charges resulted from the regulator’s investigation into Weston’s conduct as an insurance broker and the activities of Interre Insurance Brokers and Hirtes Insurance Brokers.
Between June 1 and August 27, 2002, it is alleged that Weston engaged in dishonest conduct by forwarding false documents to a number of insureds. The documents set out details of an insurance policy underwritten by Lloyds of London when no such policy existed.
Between June 6, 2002, and March 4, 2003, Weston is also alleged to have deceptively forwarded documents to a number of insureds and the Department of Tourism, Sport and Recreation. The documents claimed to set out details of insurance policies, leading to the payment of premiums and the issue of licences by the NSW Minister of Sport and Recreation.
The Commonwealth Director of Prosecutions is prosecuting the matter and Weston is scheduled to appear before Sydney’s District Court on June 29, 2007.
