Ray Robinson, 62, was a director of Johansen Insurance Brokers in Wangaratta until February 17 last year, but the Australian Securities and Investments Commission has now banned him from providing financial services for the next seven years.

An ASIC investigation found he engaged in “misleading and deceptive conduct” by altering clients’ insurance policies without their instruction between September 2013 and October 2015.

Robinson misled the clients about their level of cover and the amount of fees charged for his service.

A JIB statement to ASIC revealed 74 incidents which cost the company a total of $13,000 to refund and place the proper insurance cover for each client.

Robinson has paid $6973 back to JIB and its clients as restitution.

ASIC deputy chairman Peter Kell said the organisation would continue to hold gatekeepers to account.

“It’s crucial that brokers and other professionals in the insurance industry act with honesty and integrity, as they are entrusted to help consumers and small businesses make important financial decisions,” he said.

The investigation began after JIB notified ASIC about the breach and co-operated throughout.

Robinson was placed on a 12-month good behaviour bond last year after pleading guilty in Wangaratta Magistrates’ Court to harassing a witness in 2014 who accused his son Jamie – convicted for his role as the “enforcer” of a major drug syndicate – of breaking into his home.

The aggravated burglary charge was later withdrawn.

Solicitor Zarah Garde-Wilson told the court at the time police raided Robinson’s Wangaratta home and JIS workplace in October 2015.

“They were not very happy at all and he was asked to leave (the job),” she said.