The Australian Securities & Investments Commission said the District Court of South Australia has revoked the Recognizance Release Order imposed on former South Australian insurance broker and company director Craig John Horsell after his 2013 Corporations Act conviction. The court found he breached the order's good behaviour condition by committing a state deception offence against a bank between May 2015 and December 2018, which activated his previously suspended three-year prison sentence. The court also sentenced Horsell to two years, eight months and 10 days' imprisonment for the state deception offence, with a non-parole period of one year and seven months commencing 1 July 2027, and ordered part of that sentence to be served cumulatively. His total effective sentence is three years, eight months and 10 days. The original 2013 matter, prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC investigation, involved three charges of dishonestly using his position after he diverted 89 client insurance premium payments worth about AUD 414,000 into his personal bank account and used falsified bank statements and policy cancellations to conceal the conduct.
Australian Securities & Investments Commission2026-07-14
Australian Securities & Investments Commission says former broker Craig Horsell must serve suspended three year prison sentence after release order breach
The Australian Securities & Investments Commission said a South Australian court has activated Craig Horsell's previously suspended three-year prison sentence after finding he breached a release order by committing a further deception offence. The court also imposed a separate sentence for that offence, taking his total effective term to three years, eight months and 10 days.