Mr Barry David Hassell of Athelstone, South Australia, has pleaded guilty in the Adelaide Magistrates Court to 39 charges brought by ASIC.

The charges relate to Mr Hassell's conduct between 11 March 2002 and 13 December 2011, during his time as a director of B.D. & W.J. Hassell Pty Ltd and as a former authorised representative of a number of Australian financial services (AFS) licensees.

Mr Hassell pleaded guilty to the following charges:

• four counts of providing ASIC with false or misleading information, including the provision of clients' files containing forged documents
• 10 counts of engaging in dishonest conduct, including submission to insurers of applications for insurance that contained false information, and
• 25 counts of failing to provide a disclosure document to his clients.

Mr Hassell will appear in the District Court on 10 November 2014 for arraignment.

The Commonwealth Director of Public Prosecutions is prosecuting the matter.

Background

Each charge in relation to providing ASIC with false or misleading information carries a maximum penalty of two years imprisonment or a fine of $17,000, or both.

Each charge in relation to engaging in dishonest conduct carries a maximum penalty of five years imprisonment or a fine of $34,000, or both, with the exception of one count which carries a maximum penalty of 10 years imprisonment or a fine of $765,000, or both.

Each charge in relation to failing to provide a disclosure document carries a maximum penalty of two years imprisonment or a fine of $17,000, or both.

Editor's note1 :

On 10 November 2014 Mr Hassell was arraigned. He will next appear on 8 December 2014 for sentencing submissions.

Editor's note 2:

On 30 January 2015 Mr Hassell appeared for sentencing submissions in the Adelaide District Court. The submissions did not proceed and were rescheduled for 24 March 2015.

Editor's note 3:

At a hearing on 24 March 2015, the matter was adjourned for mention until 2 April 2015.

Editor's note 4:

At a hearing on 2 April 2015, the matter was listed for a sentencing hearing on 15 May 2015.

Editor's note 5:
On 15 May 2015, the matter was adjourned for sentencing on 15 June 2015.