An Australian former financial adviser, Anthony Paul Torre, has been sentenced to six years imprisonment, backdated to commence 29 January 2025. He was sentenced at the District Court of Western Australia and will be eligible for parole after serving four years.
Torre was sentenced in relation to three counts of stealing and two counts of fraud resulting in the misappropriation of more than $1m of clients’ superannuation funds between March 2010 and January 2015. Torre pleaded guilty to these offences on 28 January 2025, the day his trial for these offences was due to commence.
Australian Securities and Investments Commission Deputy Chair Sarah Court said Torre betrayed the trust of his clients and left many of them financially devastated.
“The sentence imposed by the Court demonstrates the seriousness of the financial harm Torre caused his clients and sends a clear message that misconduct predicated on trust will not be tolerated,” she said.
As a result of his conviction, Torre is automatically disqualified from managing companies for five years.
The matter was prosecuted by the Office of the Director of Public Prosecutions following an investigation and referral by ASIC.