One wonders if this type of carry on is not occurring in other provincial cities under the nose of ASIC.
This guy was preying on the old and lowly off to siphon their small amounts into a lotto addiction. Between $6m and $12m worth. He used scissors to cut and paste transactions over a 16 year period.
Storm Financial and now Trust Company.
Similar scams, different names, different ends of the economic ladder.
Where will it all end?
Pity the poor bastards who see Financial Advisers.
http://www.townsvillebulletin.com.au...7581_news.htmlA TRUSTED financial advisor has been jailed for 10 years after gambling $6.3 million in stolen funds to support his Lotto addiction.
Gary Michael Wilkins, 66, carried out a financial juggling act for 16 years before his embezzling was detected.
Over that period, he systematically forged documents, moved funds around and even temporarily replaced some of the stolen monies to commit one of the largest frauds in memory in North Queensland.
The bizarre story unfolded in the Townsville District Court yesterday when Wilkins pleaded guilty to fraud and appeared before Judge Kerry O'Brien for sentencing.
Crown prosecutor Roger Griffith said the method Wilkins used (see separate story) involved him committing "in excess" of 880 separate offences against 61 accounts over the 16-year period, from 1990.