Australian financial adviser charged over fraud
A former AMP and Synchron financial adviser has been brought before the courts for allegedly using the retirement savings of clients to fund his own lifestyle.
The Townsville financial adviser allegedly defrauded more than a million dollars from his client's pension and superannuation for over a decade to fund his lifestyle.
Anthony Vivian Dick allegedly used about A$1.1m of his client's money to pay personal bills between March 2006 and December 2017.
Dick was charged with 11 dishonesty offences and faced the Townsville Magistrates Court on February 10, the Australian Securities and Investments Commission said on Thursday.
The charges carry various maximum penalties of between 10 and 14 years' imprisonment.
The court granted bail and made an order that he surrender his passport. He is set to reappear in the same court on May 11.
According to the ASIC Financial Adviser Register, Dick is a member of the Association of Financial Advisers.
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