A former financial adviser, who pled guilty to stealing $10 million from his clients to spend on boats and helicopters, has been sentenced in a Melbourne court, with the judge describing his conduct as “reprehensible”.
A Sydney financial planner has been sentenced to a maximum jail term of nine years after pleading guilty to 12 counts of dishonestly obtaining financial advantage by deception.
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Athan Papoulias, former contractor to and promoter of Courtenay House investments, has been sentenced to two years’ imprisonment for his role in the Ponzi scheme.
A Perth adviser, who stole over $1 million from his clients, has received a jail sentence in the Perth District Court, with the judge reprimanding his lack of remorse for the crime.
A former Sunshine Coast adviser has been sentenced after pleading guilty to nine counts of fraud totalling $625,000 by withdrawing funds without authorisation from his clients’ SMSF accounts.
With three separate financial advisers facing criminal proceedings this year having struggled with gambling problems, access to client money combined with a stressful job can be a “perfect storm”, according to experts.
