Former adviser pleads guilty

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Former WealthSure financial adviser, Brian William Veitch, has pleaded guilty to 22 criminal charges following an ASIC investigation.

Appearing in the Sydney District Court, Veitch, formerly of Minto, New South Wales, pleaded guilty to 22 counts of using a false instrument.

Veitch was an authorised representative of WealthSure Pty Ltd from 14 December, 2005, to 23 February, 2010. During this time, he admitted to:

  • 21 counts of using false withdrawal requests to cause the fraudulent transfer of approximately $500,000 from seven clients' accounts without their knowledge or authority for his own purposes, and
  • one count of providing a client with a false portfolio statement causing the client to believe that $300,000 was still in their account when in fact it was not.

These charges follow ASIC’s investigation into Veitch’s former role as a financial adviser.

The case will return to the Sydney District Court on 8 November 2013, with conditional bail to continue.

The Commonwealth Director of Public Prosecutions is prosecuting this matter.