Townsville adviser sentenced to prison

Anthony Vivian Dick pleaded guilty to 11 counts of dishonestly applying to his own use, property belonging to another. Between March 2006 and December 2017, Dick accessed and transferred some $1.1 million from clients’ superannuation, pension and personal savings accounts and used the money to fund his own lifestyle, including spending $72,000 to purchase and maintain a boat.

In sentencing, Judge Julie Dick of the Townsville District Court noted that Dick’s conduct had a significant impact on victims and diminished public trust in the financial services industry.

“Mr Dick has been found to have breached the trust of his clients, who included unsophisticated investors and intellectually disabled consumers whom he deliberately targeted,” said ASIC deputy chair Daniel Crennan QC.

“These vulnerable clients placed their trust in Mr Dick and relied heavily on him to manage their finances. His conduct involved a gross breach of this trust and resulted in significant losses for his clients over more than 10 years. His sentencing should send a strong message that such conduct will lead to individuals involved being brought before the court to face criminal charges.”