An Olympic rower who was later convicted of ripping off his sharemarket clients has died, aged 53.
An Olympic rower who was later convicted of ripping off his sharemarket clients has died, aged 53.

Olympic rower-turned-corporate fraudster dies

Former Olympic rower and convicted fraudster Hamish McLachlan has died, aged 53.

Rowing Australia released a statement saying Adelaide-born McLachlan had died on Monday.

The circumstances of his death are not yet known.

McLachlan, born on July 27, 1967, first rowed for Australia in 1987 and competed in the Seoul Olympics a year later.

SA stockbroker and former rower Hamish McLachlan training for 1988 Olympics.
SA stockbroker and former rower Hamish McLachlan training for 1988 Olympics.

His crew finished fifth in the men's eight competition.

He was in 2003 found guilty at trial of 55 counts of improperly using his position to gain a financial advantage and jailed for nine years with a five-year non parole period.

McLachlan - while managing RetireInvest clients on behalf of his father's firm, Thompson Brindal - moved all the losing options out of his own stock portfolio into those of his clients without their consent.

Other people and organisations with which McLachlan had a personal connection, including the Adelaide Rowing Club, fell victim.

He dumped a total of $556,526 worth of losing stocks on to his clients.

McLachlan fell into depression and overeating, causing obesity, as a result of his offending.

He appealed the sentence but lost.

caleb.bond@news.com.au

 

 

Originally published as Olympic rower-turned-corporate fraudster dies


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