But the 68-year-old’s remorse and longstanding good character meant he could be sufficiently punished without being sent to jail, the judge said.
He was instead convicted and sentenced to a four-year community corrections order with 600 hours of unpaid community work – the maximum amount that can be ordered by the court.
“This was not a subtle crossing of the line,” Judge Dalziel said in her sentencing remarks on Thursday.
“The dishonesty was blatant and would have been obvious to Mr O’Bryan as he carried it out.”
Banksia Securities collapsed in October 2012, owing about $663 million to more than 16,000 debenture holders, many of whom were elderly and lost their retirement funds.
A judge approved a $64 million settlement for class action members, and about $20 million in fees and commissions for lawyers, including O’Bryan.
O’Bryan’s offending was uncovered after Wendy Botsman, a retired nurse and debenture holder, appealed against the Supreme Court settlement as the legal fees attached were excessive.
O’Bryan and another lawyer, who has since died, attempted to dissuade Botsman from pursuing her appeal by threatening her with further costs.
But her appeal was upheld, and the matter was remitted to the Supreme Court, where a judge found against O’Bryan in 2021.
Justice John Dixon ordered more than $20 million to be recovered, and O’Bryan sold his house to pay back $1.25 million.
None of the clients was made to pay the falsely claimed fees, but Judge Dalziel found harm was still caused, and O’Bryan’s conduct should be condemned.
“He breached the trust of his clients and failed to act with the integrity required of lawyers in general and senior counsel in particular,” the judge said.
But Judge Dalziel accepted O’Bryan had shown remorse by pleading guilty to a charge of attempting to obtain a financial advantage by deception.
He was also of prior good character through his years of extensive pro-bono work, and there was little to no chance he would re-offend, the judge found.
She sentenced O’Bryan to the four-year corrections order with conviction, noting he would have been jailed for two years if he had not pleaded guilty.
O’Bryan’s father and grandfather – both also named Norman O’Bryan – spent decades as Supreme Court judges during the 20th century.
O’Bryan’s other brother, Stephen, became a silk in 2003.
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