A former Financial Wisdom and Financial Planning Services Australia financial planner has pleaded guilty to three counts of deception and dishonest dealings.
South Australia-based Trevor Carll pleaded guilty in the Adelaide District Court on 29 June to one count of deception and two counts of dishonest dealings with documents.
The charges arose from ASIC's investigation into Carll's conduct as a financial adviser, the corporate regulator said.
Carll had earlier pleaded not guilty to one count of deception and 27 counts of dishonest dealings with documents.
"Mr Carll deceived two clients about his intended use of documents signed by them and dishonestly arranged for the clients' assets totalling over $900,000 to be held as security for his personal margin loan facility," ASIC said in a statement.
"Mr Carll also provided false documents intending to deceive Macquarie Bank Limited to release his clients' funds without their authority."
Each offence carries a maximum penalty of 10 years' imprisonment.
The offences occurred between 31 May 2005 and 16 October 2008 while Carll was an authorised representative of Financial Wisdom and Financial Planning Services Australia.
In February last year, ASIC permanently banned Carll from providing financial services.
Sentencing submissions will be made on a date to be fixed.
