A former insurance broker will find out next fortnight whether he is likely to be jailed for his crimes.
Last month, Paul Meier, formerly the Director of Barker Meier Insurance Brokers, pleaded guilty in Adelaide to 14 counts of dishonest dealings with documents, seven of which were aggravated.
He was arraigned to the District Court on Monday, and had his sentencing submissions appearance scheduled for early next month, where he will find out what sort of sentence the prosecution is seeking.
Each of the offences carries a maximum term of imprisonment of between 10 to 15 years.
Last year, Meier gave ASIC an enforceable undertaking to permanently refrain from providing financial services or engaging in any credit activity after an investigation by the corporate watchdog.
It found Meier had submitted false loan applications to Premium Funding on 16 occasions between October 2010 and November 2011 and used the subsequent finds to meet the business expenses of his brokerage.
At the time of the offences, Meier was a 50% shareholder in the company, which had a market presence in Adelaide and Melbourne.