Former broker Craig Horsell will be sentenced next month on dishonesty charges after the Adelaide District Court last week adjourned the matter for a second time.

He was employed by Horsell International and PSC Horsell Insurance Brokers when the offences occurred between 2007 and 2010.

Horsell pleaded guilty last November to three charges of dishonestly using his position to authorise payments of more than $414,000 to his personal bank account.

The money comprised 89 premium payments from clients.

Both companies have recovered all outstanding funds and no client has faced any financial loss, the Australian Securities and Investments Commission says.

Horsell, of Adelaide, will be sentenced on May 17. Each offence carries a maximum penalty of five years’ jail.

Sentencing was previously adjourned in February pending further submissions.