The Australian Securities and Investment Commission continues to step up its assault against advisers partaking in criminal activities as it announced that a former WealthSure financial
Brian William Veitch has appeared in the Sydney District Court, and pleaded guilty to 22 counts of using a false instrument.
Veitch who was an authorised representative of WealthSure from 2005 to 2010 admitted to 21 counts of using false withdrawal requests to fraudulently transfer approximately $500,000 from seven clients’ accounts for his own purposes and without their knowledge or authority. He also pleaded guilty of providing a client with a false portfolio statement causing the client to believe that $300,000 was still in their account when it wasn’t
The matter will return to the Sydney District Court on 8 November 2013, with conditional bail to continue and the Commonwealth Director of Public Prosecutions is prosecuting this matter.