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Broker convicted of five charges receives four month suspension

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Australian Broker | 11 Nov 2013, 07:00 AM Agree 0
A South Australian broker who pleaded guilty to five charges of giving false information to Westpac has been convicted in the Adelaide Magistrates Court
  • Phil | 11 Nov 2013, 08:54 AM Agree 0
    It was a crime committed by a broker on multiple occasions, now he gets a suspended sentence, and only 4 months at that..... then as a deterrence, he pretty much gets off with a slap on the wrist and a criminal record. Pretty soft really..... white collar crime doesn't get what it deserves.
    Only good is that he is another out of the industry until the next one rolls up and takes a swing......
  • Country Broker | 11 Nov 2013, 10:26 AM Agree 0
    Fraud is Fraud , plain and simple. This appears to be a soft sentence compared to some we have seen in other states . He is out of the industry for at least 4 years and hopefully for ever.
  • Keith of the West | 11 Nov 2013, 10:41 AM Agree 0
    Hardly going to send fear to others caught in the future!. Suppose he can go back to selling real estate, mobile phones or used cars!

    ASIC once again blowing their trumpet at the cost of the taxpayer
  • NoTimeLikeTheFuture | 11 Nov 2013, 11:45 AM Agree 0
    Well done ASIC in securing the conviction.. I know there are many obstacles.

    I wonder if brokers make good magistrates?

    It takes more than a diploma. hehehe
  • Gary Perth | 11 Nov 2013, 01:13 PM Agree 0
    Just goes to prove no matter what qualifications any professional organisation sets there is always approximately 5% who bend or break the law, judges, solicitors, accountants and even mortgage brokers
    the gaols have their fair share of each.
  • Broker | 11 Nov 2013, 03:23 PM Agree 0
    I think David was somewhat unlucky, as I know of another Broker who was also caught supplying false income information to Westpac over many years for many loans yet this person was just asked in a friendly manner by Westpac to retire from the industry. No MFAA or ASIC involvement whatsoever, rather amazing.....
  • bill hailes | 11 Nov 2013, 06:29 PM Agree 0
    ASIC at its best ?
  • Broker | 24 Nov 2015, 11:27 PM Agree 0
    Be careful brokers. I heard this guys is actually working for ASIC on the inside.
  • SEQ BROKER | 25 Nov 2015, 09:02 AM Agree 0
    I have a different point of view. The penalty received by the broker was actually more harsh than the penalty given to a 21 year old who drugged and sexually abused our daughter of 15 at a party. Crime against money in this country usually comes with outrageous penalties where actual crime comes with what seems like encouragement.
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