Brian William Veitch, who between December 2005 and February 2010 was licensed by WealthSure, has made the plea following an ASIC investigation into his activity as a financial adviser.
Mr Veitch has admitted to “21 counts of using false withdrawal requests to cause the fraudulent transfer of approximately $500,000 from seven clients’ accounts without their knowledge or authority for his own purposes” and “one count of providing a client with a false portfolio statement causing the client to believe that $300,000 was still in their account when in fact it was not”, according to an ASIC statement.
The matter will return to the court on 8 November.
Any firm using the word “wealth” in their business or trading name should seriuosly change it asap. It not only sounds corny, tacky & pretentious but portrays you as selling snake oil.