ASIC pursues Torre over $1.8m 'fraud'

A Mosman Park-based financial advisor has been charged with fraud after a probe by the corporate watchdog allegedly found he had stolen more than $1.8 million from clients.

Anthony Paul Torre faced Perth Magistrates Court late last week charged with eight counts of fraud and five counts of stealing under the state’s criminal code.

The charges relate to allegations Mr Torre stole about $1.882 million from his clients between March of 2010 and January 2015.

The charges were laid following an investigation launched by the Australian Securities and Investments Commission, which has now alleged Mr Torre used the funds obtained for his own benefit.

This matter, which is being prosecuted by the Commonwealth Director of Public Prosecutions, is scheduled to return to court in mid-September.

Each of the fraud and theft charges carry a maximum penalty of seven years imprisonment.