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A former employee of a mortgage and wealth business faces up to 10 years in jail and $2.6 million in fines after falling foul of ASIC.
Barry David Hassell of Athelstone appeared in the Adelaide Magistrates Court on May 2 following an ASIC investigation that concluded in 2012.
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Mr Hassell was charged with 67 counts of providing ASIC with false or misleading information, including the provision of client files containing forged documents.
He was also charged with 12 counts of dishonest conduct, including submitting insurance applications with false information, and 25 counts of failing to provide a disclosure document to his clients.
The charges carry a maximum penalty of 10 years' imprisonment and a combined maximum of $2.6 million of fines.
Mr Hassell did not enter a plea and will reappear in court on May 13.
The charges relate to his conduct between 2002 and 2011, during which he was an authorised representative of several Australian financial services licensees.
ASIC accepted an enforceable undertaking from Mr Hassell in May 2012 to never again provide financial services.
It came two months after his dismissal by 101 Wealth Solutions, a company that offers mortgage broking and other financial services such as insurance and superannuation.
