• subs-bellGet the latest news! Subscribe to the ifa bulletin

Former WealthSure adviser faces criminal charges

A former authorised representative of non-aligned AFSL WealthSure has pleaded guilty to 22 counts of using a false instrument in the Sydney District Court.

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.