Former advice firm principal pleads guilty to fraud
A former principal of a financial advice firm, who was previously charged with fraud offences relating to the use of SMSF funds, has pleaded guilty to 25 charges brought by ASIC.
The former principal of Sherwin Financial Planners and chairman of Wickham Securities Bradley Thomas Sherwin of Everton Hills, Queensland, has pleaded guilty to 25 charges brought by ASIC, arising out of the collapse of his financial planning business.
Mr Sherwin appeared in the Brisbane District Court and pleaded guilty to 24 counts of dishonestly causing a detriment between May 2009 and December 2012 to the value of nearly $10 million to a number of clients of Sherwin Financial Planners.
He also pleaded guilty of dishonestly breaching his duties as a director of Wickham Securities between June 2010 and October 2010.
Mr Sherwin will be sentenced on 14 November 2017. Mr Sherwin did not apply for bail and was remanded in custody.
ASIC announced that Mr Sherwin had been charged with 33 offences in June 2015. At the time, ASIC said the charges related to the use of SMSFs of former clients of Sherwin Financial Planners.