Victorian broker Bruce Wickett has admitted stealing more than $660,000 of clients’ money.

Mr Wickett, of Frankston, pleaded guilty at Melbourne Magistrates Court on February 1 to three counts of stealing insurance premiums held on behalf of 228 clients.

He was bailed to appear in the County Court on April 18. Under his bail conditions he must surrender his passport to the Australian Securities and Investments Commission (ASIC).

The money was stolen between August 2010 and March 2011, ASIC says. At the time of the offences Mr Wickett was sole director of Wickett Investments and Wickett Insurance Broking.

The charges under section 74 of the Victorian Crimes Act carry a maximum penalty of 10 years in jail for each offence.