The stockbroker who brought about the demise of Perth firm Hogan and Partners has pleaded guilty to fraudulent activity totalling more than $7 million.
Jonathan Kur appeared in Perth District Court today, charged with fraud and dishonest use of his position following an investigation by ASIC.
Mr Kur pleaded guilty to three counts of fraud with a total value of more than $7.7 million.
The charges related to Mr Kur’s conduct between May 2005 and December 2008, where it was alleged he intentionally hid losses from options trading accumulated on overseas client accounts.
ASIC said that as a result of Mr Kur's conduct, Hogan's clients lost more than $9 million.
Mr Kur resigned from Hogan on 18 December 2008 and Hogan ceased business on 20 December 2008.
Mr Kur has been placed on continuing bail and will reappear in court in February.
He was permanently banned from providing financial services by the Australian Securities and Investments Commission in 2009.