A Sydney-based former authorised representative of Lionsgate Financial Group accused of ‘tombstoning’ has pleaded guilty to two charges of dishonest conduct.
The Downing Centre Local Court heard that Pavan Vyas – a former adviser of Lionsgate and HNW Planning Pty Ltd – had engaged in tombstoning i.e. earned insurance brokerage commissions by using the names of non-existent or dead people.
Mr Vyas submitted 15 false insurance applications between June 2012 and March 2013, earning him $243,433 in commissions via deceptive means.
The former adviser was banned permanently from providing financial services in July.
Amendments to superannuation law introduced in October have not yet progressed through Parliament. ...
The investment platform has added 12 ESG-focused investment options to its menu in an effort to meet growing adviser and client needs. ...
An ex-bank adviser’s financial services ban has been varied by the Administrative Appeals Tribunal. ...
Get notifications in real time and stay up to date with content that matters to you.
