A predatory Melbourne lawyer who defrauded millions from clients, charities and friends and left sick and elderly victims financially devastated has been jailed for eight and a half years.
Alan John Munt, 61, ripped-off $4.8 million in a decade-long Ponzi scam to prop up "hair-brained schemes" and failing businesses including his legal practice and a soft drink company in Geelong.
One victim was forced to sell the family home and had to rely on relatives to provide a roof for their children, and another learned of her lost investment while undergoing radical cancer treatment.
"She was emotionally distressed and clearly devastated that a respected member of the legal procession, and someone she trusted, would do such a thing to a defenceless elderly lady," according to a victim impact statement.
Another victim lost her life savings of $80,000 as a result of Munt's offending, which occurred from 1998 to 2009.
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Munt is bankrupt and has made no restitution, nor is there any prospect of him doing so, the Victorian Supreme Court heard on Thursday.
Sentencing justice Betty King said his behaviour was predatory, manipulative and carried out upon people who knew, liked, trusted, respected and even care about him.
"You have left in your wake pain, suffering, feelings of loss, distrust, in some cases financial deprivation, and heartache," Justice King said.
The financial loss has been ongoing and severe for many of Munt's victims, she said.
Despite this, Justice King said Munt was not living a lavish lifestyle.
"You used their funds to prop up your practice so that you looked and behaved like a successful solicitor," she said.
"You used it to allow you to became involved in hair-brained schemes and plans that were well outside any expertise that you could claim to possess."
Munt pleaded guilty to 27 fraud-related charges, including theft and obtaining financial advantage by deception.
However, Justice King rejected submissions from Munt's barrister that he self-reported to the Law Institute of Victoria on September 14, 2009.
A junior solicitor who worked for Munt contacted the LIV's Professional Standards Department on September 10, 2009, and it was only after an investigator made contact with Munt four days later that he admitted some "trust account issues", Justice King said.
Munt must serve at least five years and six months jail before parole.
