Former Townsville financial service adviser Anthony Vivian Dick was sentenced to eight years’ imprisonment following an investigation lead by the Australian Securities and Investments Commission (ASIC).
Dick pleaded guilty to eleven counts of dishonestly applying to his own use, property belonging to another.
Dick accessed and transferred around $1.1 million from his clients’ superannuation, pension and personal savings accounts from March 2006 and December 2017.
ASIC’s investigation exposed that Dick used his clients’ money to fund his lifestyle, including the amount of $72,000 to purchase and maintain a boat.
The judge noted that head sentence of nine years’ imprisonment would have been appropriate, but for the self-reporting and co-operation of the defendant.
The judge also described Dick’s conduct as having had a significant impact on his victims and diminishing public trust in the financial services industry.
