A Townsville adviser has pleaded guilty to 11 counts of dishonesty relating to the transfer of over $1 million from his clients’ super, pension and savings accounts.
In a statement released on Wednesday, ASIC said Anthony Dick had pleaded guilty to the offences under the Criminal Code Act 1899 (Queensland) on 30 March.
The offences related to "dishonestly applying to his own use, property belonging to another" contrary to section 408C(1)(a) of the act.
The regulator's case alleges that Mr Dick accessed around $1.1 million from his clients' super, pension and savings accounts between 2006 and 2017, which was used to fund his personal lifestyle.
The charges carry maximum penalties of between 10 and 14 years’ imprisonment.
The matter is being prosecuted by the Commonwealth Director of Public Prosecutions, with Mr Dick set to appear in Townsville District Court at a date yet to be set.
ASIC said Mr Dick had co-operated with their investigation and pleaded guilty to the offences early.
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