ASIC alleged that between 14 October 2010 and 12 July 2016, Robert Pryor Smith stole approximately $179,600 from a deceased estate of which he was executor, by transferring the money from the estate account to one of his own accounts. The property was jointly owned by the beneficiaries of the estate, who were charitable organisations.
The offences were allegedly committed when Mr Smith was a financial adviser of Futuro Financial Services and director of Advice 4 Wealth (A4W), and when Mr Smith and Futuro were authorised representatives of A4W.
Mr Smith appeared in the Adelaide Magistrates Court on 7 June 2019. Mr Smith was placed on bail and was remanded to appear in the committal court on 23 July 2019. He faces a maximum penalty of 10 years imprisonment for each offence committed prior to May 2012, or 15 years imprisonment for each offence committed after that time.
The Commonwealth Director of Public Prosecutions is prosecuting the matter following referral of a brief from ASIC.
On 8 January 2018, ASIC took administrative action against Mr Smith, permanently banning him from providing financial services, on the basis that he was not of good fame or character.
What a total and utter disgrace. Although, interesting how the punishment is worse than manslaughter
Whilst this guy is a bad person and deserves jail time. Why dont banking execs ever get in any trouble when they teal money from investors, charge dead people fees, manipulate the exchange rate.
Also. 10-15 YEARS IN JAIL. YOU CAN RAPE AND MURDER SOMEONE AND GET LESS TIME.
Not a Dickhead just a plain and utter thief !!!
Why is it that this guy cops 15 years and gets charged with Theft when ASIC can extort hundreds-of-millions from the financial services industry under the guise of a Industry Funding Levy and get off scott free? What a crock this industry has become!
wow. what a dickehead