A 43-year-old unregistered broker was fined $2000 when he pleaded guilty in Melbourne to 15 charges of misleading conduct related to the establishment of insurance contracts.

ASIC told the Melbourne Magistrates' Court that Alejandro Bejares, from the Melbourne suburb of South Caulfield, arranged numerous general insurance contracts between January 1 1999 and May 31 last year, provided false information on his clients’ applications for insurance, and overcharged them.

Mr Bejares was alleged to have misled his predominantly Spanish-speaking clients regarding the amount payable for the insurance contracts, causing them to pay more than necessary.

Prior to his conviction, ASIC had sought and obtained consent orders in the Federal Court restraining Mr Bejares from entering into contracts for general insurance.

The Federal Court ordered Mr Bejares to send a letter to each person he had received money from since January 1 2000 advising them to directly contact their insurance company to determine whether insurance arranged by Mr Bejares was current and appropriate to their needs.

The Melbourne magistrate also ordered him to complete two separate good behaviour bonds for a period of two years each, and he was fined $2000, for charges under the Insurance (Agents and Brokers) Act and state Crimes Act.