According to an ASIC statement, Bruce Lawrence Wickett – former director of Wickett Investments Pty Ltd and Wickett Insurance Broking Pty Ltd – has been sentenced to 18 months’ imprisonment with a non-parole period of 8 months.
Mr Wickett pleaded guilty to three charges of theft in February, after an ASIC investigation found Mr Wickett stole $663,198.31, which “represented insurance premiums paid by clients to his insurance broking business, instead of passing the funds on to the relevant insurance companies as required”.
The ASIC investigation alleged the accused sent the money overseas to an online acquaintance that he subsequently developed an “online relationship” with.
“Putting individuals at risk of potential losses by blatantly stealing money for personal benefit will not be tolerated’, said ASIC deputy chairman Peter Kell.
CAF You have misread my comments I am not supporting that University qualifications will prevent this, I am saying we constantly read advocates stating that higher education via University will assist with many of the current issues from happening. I in fact totally disagree as no manner of education will protect the human from himself and his desires for immediate wealth. I am more than comfortable with what is required for entry and the ongoing raising of requirements in due course.
Jeff – a very long bow my friend.
Where on earth did you read that a university education prevents fraud?
We constantly read that there is a stronger need of higher education via Universities in the advisor area, to prevent these types of things happening but no manner of education will protect a human from themselves.