Financier guilty of $1.1M fraud on clients
A Townsville financial adviser has pleaded guilty to defrauding clients of more than $1 million to fund his lavish lifestyle.
Anthony Vivian Dick entered his guilty pleas to 11 charges in March, just days after his first court appearance for tampering with his clients' superannuation, pension and savings accounts.
ASIC alleged that between March, 2006 and December, 2017 Mr Dick transferred about $1.1 million from these accounts to fund his personal lifestyle expenses.
It is alleged the Rangewood man used his clients' money to fund his personal lifestyle expenses.
Mr Dick operated from his business called Advantage Financial Services, and is alleged to have fleeced 13 people from around the Townsville region.
Court documents show the monetary value he is alleged to have taken from previous clients, ranged from $5000 to more than $30,000 per person.
The charges carry various maximum penalties of between ten to fourteen years' jail.
Mr Dick will face Townsville District Court after The Commonwealth Department of Public Prosecutions presents an indictment to court.
Originally published as Financier guilty of $1.1M fraud on clients