Planner in $10m fraud guilty plea

A FORMER financial planner pleaded guilty to more than 20 fraud charges relating to the misuse of about $10 million in former clients’ self-managed superannuation funds.

Bradley Thomas Sherwin appeared yesterday before the Brisbane District Court, where he pleaded guilty to 24 counts of fraud with a circumstance of aggravation.

He also pleaded guilty to one count of dishonestly failing to exercise his duties as a company director.

Sherwin was the principal of Sherwin Financial Planners and chairman of Wickham Securities, which folded in 2013 with a combined $60 million owing to creditors.

He was originally hit with 33 counts of dishonestly causing detriment between May 2009 and December 2012 after an investigation.

Sherwin was remanded in custody and the matter set for sentence on November 14.