Townsville adviser charged with dishonestly using client money

Townsville financial adviser Anthony Dick has been charged after he accessed and transferred around $1.1 million from his clients’ superannuation, pension and personal savings accounts to fund his personal lifestyle, following an investigation by the Australian Securities and Investments Commission (ASIC).

Dick had been charged with 11 counts of dishonestly applying to his own use property belonging to another between March 2006 and December 2017.

Dick appeared at the first mention of the matter at Townsville Magistrates Court on 10 February, 2020, and was granted bail and an order that he surrender his passport.

The matter would come before the court on 11 May, 2020, and is being prosecuted by the Commonwealth Director of Public Prosecutions following a referral of a brief of evidence from ASIC.

This was contrary to section 408C(1)(a) of the Criminal Code Act 1899 (Queensland), but due to changes to the criminal code during the period of offending, the charges carry various maximum penalties between 10-14 years’ imprisonment.