New South Wales insurance broker Scot Weston has been convicted in relation to four charges of dishonest conduct following an investigation by the Australian Securities and Investments Commission (ASIC).
Weston was sentenced in the Downing Centre District Court in Sydney to 300 hundred hours of community service. Weston was also given a $500, two-year good behaviour bond.
The Commonwealth Director of Public Prosecutions prosecuted the matter.
The former Wollongong man pleaded guilty in the District Court to four charges in April this year.
“These charges were laid after an ASIC investigation into Mr Weston’s dishonest conduct as an insurance broker between 1 June and 27 August 2002 while acting as an independent contractor to Hirtes Insurance Brokers,” an ASIC statement said.
Weston engaged in dishonest conduct when he forwarded documents to a number of go-kart track operators, as well as to the NSW Department of Sport and Recreation, which set out details of insurance with coverage of $30 million underwritten by Lloyds of London, when in fact no such policies existed.
