A former stockbroker and options adviser has pleaded guilty to 27 counts of forgery in the Adelaide District Court.
The charges were the result of an investigation conducted by the Australian Securities and Investments Commission (ASIC).
The regulator alleged Neville Kakoschke forged collateral document forms between September 2002 and March 2003 when he was employed by stockbroking firms Dicksons and Bell Potter Securities.
The forgeries allowed Kakoschke to use his clients’ shares as collateral for trading on other accounts as well as for his own personal options transactions.
Kakoschke’s actions meant some of his clients had no further collateral to continue trading, at which time the former stockbroker forged additional documents to allow these clients to participate in future trading activity.
In all, shares to the value of just under $1.3 million were placed at risk as a result of the forgeries.
Kakoschke has been remanded on bail for sentencing in the Adelaide District Court in September.
