A 50-year-old Brisbane lawyer has been sentenced to 10 years in prison for committing fraud to the tune of around $8 million.
The AAP reports that Anthony Scott Wood pleaded guilty in Brisbane's District Court yesterday (10 February) to two counts of aggravated fraud and one of forgery.
Prosecutor Glen Cash told the court Wood dishonestly used money from the trust account of Crouch and Lyndon to take out numerous high-interest loans.
He made repayments on the loans by dishonestly obtaining further funds from financiers.
"You were taking money from one client and then from another to pay the first, and then there was this snowballing effect," said Judge Michael Noud in sentencing Wood to the maximum penalty of 10 years jail.
The court heard that Wood made 40 fraudulent transactions between 2003 and 2008.
Cash said it was hard to determine exactly how much money was misappropriated, but the figure could be as high as $8 million.
Wood will be eligible for parole in three years.