NSW-based former broker Marcus Anthony has pleaded guilty in the NSW Central Local Court to fraud and operating without a licence.

He was charged with misappropriating clients’ funds while posing as a licensed broker through Abbotsford-based brokerage Marantmar Finance and Insurance.

The Australian Securities and Investments Commission said that Mr Anthony told a client he had an affiliation with the insurance industry – an affiliation he didn’t have. It also says that between August 2002 and January 2003 he intended to pocket $2000 by falsely informing a client he would obtain vehicle insurance.

Mr Anthony is due to re-appear before the Central Local Court for sentencing on December 1.