Australia: Financial adviser allegedly ripped off clients to fund gambling - PressFrom - Australia
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AustraliaFinancial adviser allegedly ripped off clients to fund gambling

15:10  09 september  2019
15:10  09 september  2019 Source:   9news.com.au

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A Sydney financial adviser allegedly defrauded three elderly clients of 5,000 to help fund his gambling addiction, a court has heard. The Central Local Court heard Edward Toller, from Vaucluse, targeted the elderly and the vulnerable, with two of his victims aged in their 70s and another aged 85.

Leading brand for international independent financial advisers , wealth management professionals serving expatriate and cross-border clients worldwide. Financial adviser in Australia charged for allegedly stealing from clients to fund gambling .

A Perth financial adviser who allegedly ripped off his clients of close to a million dollars faced Joondalup Magistrate's Court in his first appearance today.

West Australian police allege 38-year-old Mark Sebo from Yanchep misappropriated $948,236.96 of clients' funds without authority to do so.

Financial adviser allegedly ripped off clients to fund gambling © 9News His licence has been cancelled.

He is accused of using that money to fund a gambling habit, transferring the allegedly stolen funds into personal online gambling accounts.

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Latest financial news including banking, taxation, budgets, personal finance , retail, and government spending. Customers struggling to pay off mounting bills A Sydney financial adviser allegedly defrauded three elderly clients of 5,000 to help fund his gambling addiction, a court has heard.

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This was the first appearance for the 38-year-old Yanchep man. The magistrate today at Joondalup Court saying due to the seriousness of the charges his case needs to be heard in a higher court.

Sebo's licence to practice as a financial adviser has been cancelled by ASIC following the charges. Bail conditions also state he's not allowed to give financial advice to anyone.

He's also banned from contacting the clients he's alleged to have stolen from.

Sebo's bail was granted when a $50, 000 surety was paid by his mother, who was sitting in the court room.

He will face court again on October 14th.

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