Jail term for 'fake' stockbroker

The unauthorised broker, William Anthony ‘Robin’ Radclyffe, from Salisbury, was prosecuted by the FSA for 15 offences under the Theft Acts, the Financial Services Act 1986 and the Financial Services and Markets Act 2000. Radclyffe pleaded guilty to the offences, with a further 34 taken into consideration, and has been disqualified from being a company director for five years. Between 1997 and 2004, Radclyffe made false and misleading statements to clients about the management and profits of an illegal collective investment scheme that he operated, according to the FSA. In addition, he st...