Advisers face jail for pocketing commission

Mark Bates and Alan Hill, partner and adviser at Sheffield-based PACE Financial Management respectively, have been told they face jail following the verdict at Southwark Crown Court, according to reports. Jurors heard Hill should have received half the commission on financial products such as mortgages and insurance policies, but he failed to pay the company its cut of the money for some clients. The court heard he kept up to 90% of the commission in some cases. Hill made a total of £370,000 during the five-year con, which began in 2002, making payments by cheque to Bates and his w...