03-182 Former insurance agent sentenced to jail
Tuesday 10 June 2003
Mr Joseph Francis McNeany, of Richmond Victoria, was sentenced today to three years in jail on 20 charges of theft laid following an investigation by the Australian Securities and Investments Commission (ASIC).
Judge Lewitan in the County Court of Victoria ordered Mr McNeany to serve one year in custody, with two years suspended provided he is of good behaviour. She also ordered Mr McNeany to pay compensation of $78,254 to the victims of his crimes.
The charges relate to Mr McNeany’s theft of $78,254 he received in premiums paid to Integrated Insurance Service between 25 February 2000 and 22 February 2001. Mr McNeany operated Integrated Insurance Service from offices in Riversdale Road, in Hawthorn, Victoria.
17 clients paid the premiums for insurance policies for businesses (including three hotels and a equipment hire business), motor vehicles and home and contents. Mr McNeany admitted to receiving premiums from the clients and not placing the agreed insurance.
Mr McNeany acted as an agent for Australian Unity General Insurance Limited between 18 February 2000 and 23 February 2001. Prior to this he was an agent for MMI (now Allianz Australia Limited).
The Commonwealth Director of Public Prosecutions prosecuted the matter.
ASIC Website: Printed 02/09/2010
