The Australian Securities & Investments Commission (ASIC) announced that the District Court of Western Australia sentenced former financial adviser Anthony Paul Torre to six years imprisonment, backdated to commence on 29 January 2025, for stealing and fraud involving the misappropriation of $1,030,000 of clients’ superannuation funds between March 2010 and January 2015. He will be eligible for parole after serving four years, and the conviction results in an automatic five-year disqualification from managing companies. The sentence relates to three counts of stealing and two counts of fraud contrary to sections 378 and 409 of the Criminal Code (WA), to which Torre pleaded guilty on 28 January 2025. ASIC noted that victims included clients over the age of 60, including a couple defrauded of $500,000 and another client from whom $150,000 was stolen; the matter was prosecuted by the Commonwealth Director of Public Prosecutions following an ASIC investigation and referral.
Australian Securities & Investments Commission 2026-01-23
Australian Securities & Investments Commission reports six-year prison sentence for former financial adviser Anthony Torre over $1.03 million superannuation fraud and theft
The Australian Securities & Investments Commission announced that former financial adviser Anthony Paul Torre was sentenced to six years for stealing $1,030,000 of clients’ superannuation funds, with parole eligibility after four years and a five-year company management disqualification. The conviction, following a guilty plea, involved misappropriation from clients over 60 and was prosecuted by the Commonwealth Director of Public Prosecutions after an ASIC investigation.