Former Sydney planner, Ross Hopkins, sentenced to six years

Killara financial planner and the sole director of QWL, Ross Hopkins, has been sentenced by the District Court of New South Wales to a maximum period of six years’ imprisonment after having been convicted of 15 dishonesty offences under the Corporations Act. 

The Australian Securities and Investments Commission (ASIC) found that Hopkins, who managed his clients self-managed superannuation fund (SMSF) accounts and had almost complete control of his clients’ superannuation which allowed him to transact on their accounts, misappropriated approximately $2.9 million of his clients’ funds without their knowledge between 14 October, 2016, and 8 October, 2019. 

According to ASIC, Hopkins also used his clients’ funds for his own benefit, such as holidays, rent, paying his own credit card debt and repaying personal loans.