A former Sydney-based AMP agent has been jailed for two years and 10 months for collecting clients’ super payments without passing them on to the relevant funds. The sentence on Harold Moses of Vaucluse carries a 15-month non-parole period.

Between 1993 and 1997 Mr Moses accepted almost $340,000 in employer super contributions from two of his former clients but failed to pass them on to the relevant super funds, including AMP, Mercantile Mutual and Host Plus. He continued to receive the super contributions even though he’d retired as an AMP agent in June 1994.

Mr Moses, 37, conducted the acts through his company Baxters Holdings. AMP and Mercantile Mutual have compensated his clients for their losses.

Australian Securities and Investments Commission (ASIC) Chairman David Knott says the public should be able to rely on super agents because they place great trust in them. “ASIC will take action to ensure dishonest agents who fail in their duties to clients are appropriately dealt with through the courts,” he said.