Former South Australian insurance broker Craig Horsell is facing 5 years in prison following an ASIC investigation, its alleged that Mr Horsell acted dishonestly when he authorised the transfer or 88 insurance premium payments from clients totalling $414,299 into his bank account but did not purchase the insurance product requested by his clients.
During this period he was an employee and director of Horsell International Pty Ltd (HIPL) and PSC Horswell Insurance Brokers Pty Ltd, in January this year ASIC permanently banned Mr Horsell from providing financial services, HIPL and or PHIB have recovered all the outstanding funds and the insurances have been reinstated so that no client have faced any financial losses.
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