Vic­tims ap­plaud fraud­ster’s jail

The Observer - - NEWS | NATION & WORLD -

FI­NAN­CIAL plan­ner Brad Sher­win, who wiped out his clients’ life sav­ings in a $60 mil­lion Queens­land col­lapse, has been jailed for 10 years for de­fraud­ing cus­tomers.

He must serve at least four years be­fore the pos­si­bil­ity of pa­role, un­der the rul­ing handed down yes­ter­day in Bris­bane’s Dis­trict Court.

“You have blighted their lives”, Jus­tice Julie Dick said to Sher­win of his vic­tims.

The sen­tence comes al­most five years af­ter his busi­nesses col­lapsed in a Ponzi scheme, in a huge scan­dal for the emerg­ing self-man­aged su­per­an­nu­a­tion fund sec­tor.

Sher­win, 63, pleaded guilty to 24 counts of fraud be­tween 2009 and 2012 in­volv­ing clients of his Sher­win Fi­nan­cial Plan­ners.

He also ad­mit­ted to one count of breach­ing his du­ties as chair­man of prop­erty fi­nancier Wick­ham Se­cu­ri­ties in 2010.

Sher­win nur­tured a loyal cus­tomer base of al­most 400 clients over decades.

El­derly vic­tims cried when read­ing wit­ness im­pact state­ments in court and broke out in ap­plause as he was led off to jail.

– Liam Walsh, Courier Mail

PHOTO: SUP­PLIED

Brad Sher­win.

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