Australia

‘Master manipulator’ scammer Brisbane stockbroker imprisoned for 11 years

A previous Brisbane stockbroker who tricked individuals out of countless dollars has actually been sentenced to 11 years’ jail time.

Rod Halligan, 59, appeared in the Brisbane District Court on Wednesday over scams charges for moving his customer’s shares, some worth a minimum of $100,000, for his own advantage.

Roderick George Halligan was prohibited by ASIC in March 2022.

The court heard among his customers lost what would deserve approximately $2.5 million today had her shares been invested the method she had actually planned.

Crown district attorney Chris Cook stated Halligan’s thoroughly prepared angering was “callous adjustment and deceptiveness”.

Explaining Halligan as a “master manipulator”, Cook stated the broker had actually dishonestly used his customers’ shares – a few of which were Suncorp Bank, Macquarie Bank and Wesfarmers shares – to his own usage, and if he had actually refrained from doing that, they would have been of “significant worth” by the time he was captured in 2020.

He attempted to defraud another customer of practically half a million dollars, however it was found in an audit performed by CMC Markets, which exposed he had actually sent an off market transfer of the male’s shares to a business kept in Halligan’s better half’s name.

The court heard Halligan was just captured due to the fact that another customer, 79 years of ages at the time, had actually ended up being worried about her shares.

Throughout the angering, extended throughout 12 years up until 2020, Halligan assured his customers and produced files to recommend their cash was safe.

In one circumstances, when a customer thought Halligan of scams, he guaranteed he would offer his costly New Farm house to pay her back, however according to the prosecution, that never ever happened.

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Jacky

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