ASIC busts thief
A former insurance intermediary has appeared in court on charges that he allegedly stole more than $134,000 worth of general insurance product payments by withholding it from the relevant insurance providers.
The Australian Securities and Investments Commission (ASIC) alleges that Robert Wilson, of Victoria, stole the funds from clients and insurance premium funder BMG Finance during February 2004 and December 2005 while engaged by Mark Prolisko Insurance Agency and Overton Insurance (Brokers) Victoria.
He has been charged with 47 counts of theft, two counts of making a false document, one count of obtaining property by deception and one count of obtaining a financial advantage by deception.
Wilson was permanently banned from providing financial services at the beginning of 2006.
Recommended for you
AZ NGA has partnered with an Adelaide-based accounting and financial planning practice as it expands its presence in South Australia.
The central bank has released its decision on the official cash rate following its November monetary policy meeting.
ASIC has cancelled the AFSL of a Melbourne-based managed investment scheme operator over a failure to pay industry levies and meet its statutory audit and financial reporting lodgement obligations.
Melbourne advice firm Hewison Private Wealth has marked four decades of service after making its start in 1985 as a “truly independent advice business” in a largely product-led market.
