Melbourne broker jailed
A Melbourne broker convicted of stealing almost $120,000 from clients was last week jailed for six months.
Robert James Wilson was sentenced for misappropriating more than $119,600 from 14 clients and premium funder BMG Finance between February 2004 and September 2005.
During that period he was employed by Mark Prolisko Insurance Agency.
ASIC commenced legal action after an investigation alleged Mr Wilson deposited client money into bank accounts under his control without passing the money on to his employer or insurers.
He also falsified insurance premium funding contracts to get finance from BMG and on one occasion failed to pass on an insurance claim payout to the client.
Mr Wilson pleaded guilty to two charges of theft, one charge of obtaining financial advantage by deception and one charge of obtaining property by deception.
The County Court in Melbourne sentenced him to 18 months imprisonment with 12 months suspended.
In February ASIC permanently banned Mr Wilson from providing financial services.
[Following a number of inquiries to insuranceNEWS.com.au, ASIC has confirmed Mr Wilson’s status as an employee of an Australian financial services licensee at the time of the offences. He was not an authorised representative and has been designated in all ASIC communications as an insurance broker. – The Publisher]
Robert James Wilson was sentenced for misappropriating more than $119,600 from 14 clients and premium funder BMG Finance between February 2004 and September 2005.
During that period he was employed by Mark Prolisko Insurance Agency.
ASIC commenced legal action after an investigation alleged Mr Wilson deposited client money into bank accounts under his control without passing the money on to his employer or insurers.
He also falsified insurance premium funding contracts to get finance from BMG and on one occasion failed to pass on an insurance claim payout to the client.
Mr Wilson pleaded guilty to two charges of theft, one charge of obtaining financial advantage by deception and one charge of obtaining property by deception.
The County Court in Melbourne sentenced him to 18 months imprisonment with 12 months suspended.
In February ASIC permanently banned Mr Wilson from providing financial services.
[Following a number of inquiries to insuranceNEWS.com.au, ASIC has confirmed Mr Wilson’s status as an employee of an Australian financial services licensee at the time of the offences. He was not an authorised representative and has been designated in all ASIC communications as an insurance broker. – The Publisher]