The corporate watchdog has charged former Sydney-based financial adviser Alan Leslie Brown with fraud.
Brown, who appeared in Sydney's Downing Centre Local Court on Tuesday, was charged with one count of obtaining money by deception, two counts of using a false instrument and 12 counts of dishonest conduct in relation to financial services.
ASIC alleged that between July 2002 and July 2008, Brown fraudulently withdrew funds totalling $600,000 from five clients' accounts without their knowledge or authority.
"Mr Brown also allegedly forged a client's signature on a falsified withdrawal request to obtain funds from the client's account for his own purposes," it said.
"These charges result from an ASIC investigation into Mr Brown's former role as a financial adviser.
"Mr Brown's conduct was brought to ASIC's attention by Bridges Financial Services Pty Ltd, for whom Mr Brown was an authorised representative between 7 June 2007 and 13 May 2008."
Bridges Financial Services assisted ASIC with its investigation into the allegations of misconduct made against Brown, ASIC said.
The corporate watchdog said Brown was granted conditional bail.
The matter will return to Downing Centre Local Court on 8 March.
