A former NAB financial adviser has been banned for life from working in the industry after he overcharged clients and misappropriated fees owed to the bank.
The corporate watchdog permanently banned Hardik Bhimani, of Sheidow Park, South Australia, following an investigation into his behaviour while he was employed by National Australia Bank between April 2011 and November 2013.
The Australian Securities and Investments Commission says Mr Bhimani's offences included pocketing money owed to NAB after creating documents to falsely show the bank advice fees had been waived.
The bank alerted ASIC to Mr Bhimani's conduct and fully refunded the fees to clients.
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