Former Wealthsure adviser pleads guilty
A former WealthSure financial adviser has pleaded guilty to 22 criminal charges including falsifying client withdrawal requests.
Brian William Veitch was an authorised representative of WealthSure from 14 December 2005 to 23 February 2010.
Appearing in the Sydney District Court, Veitch pleaded guilty to 21 counts of using false withdrawal requests to cause the fraudulent transfer of approximately $500,000 from seven clients’ account without their knowledge or authority for his own purposes.
He also pleaded guilty to one count of providing a client with a false portfolio statement causing the client to believe that $300,000 was still in their account when it was not.
The charges follow an Australian Securities and Investments Commission (ASIC) investigation into Veitch’s former role as a financial adviser. He was permanently banned by the regulator in April 2011.
The matter will return to the Sydney District Court on 8 November 2013, with conditional bail to continue.
AUTHOR
Andrew Tsanadis
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