16 Oct 2014

Insurance broker jailed for 4.5 years

4:33 pm on 16 October 2014

The Serious Fraud Office says a jailed insurance broker has damaged the industry's reputation by his actions.

An Auckland district court judge today sentenced Grant Malcolm Herbert to four and a half years in prison for fraudulently using $2.5 million of clients' money to run his company.

The 64-year-old owner of Herbert Insurance Group had earlier been found guilty on 24 charges.

The SFO said he seriously breached clients' trust and damaged the community's confidence in brokers.