Former Tasmanian based insurance agent and financial adviser Joachim Prehn has been sentenced to six years’ jail, with a non-parole period of four years, after he was found guilty of 28 counts of fraud.

Mr Prehn pleaded guilty to defrauding clients, many of whom were retirees. Between June 30 1995 and July 13 1998, he was knowingly involved in misappropriating about $1.7 million in clients’ funds. The insurance company Mr Prehn acted for has provided compensation for the clients’ losses.