FSA bans broker for stealing £150K from clients

John White, a former employee at investment bank and stockbroker Seymour Pierce,  has been prevented from working in financial services for committing fraud in excess of £150,000. Between 2001 and 2006, White stole £152,372 from his then employer and a number of its private clients in 37 separate transactions. He hid £145,000 in a dormant account that had been paid to Seymour Pierce in error. White also transferred a personal trading loss into a Seymour Pierce account, and stole trading profits, dealing commission and credit interest belonging to his employer. Last year, the FSA...