Former financial adviser admits to £1m fraud

clock

A former financial adviser has admitted to defrauding clients out of more than £1m over a 20-year period.

Malcolm Green admitted to 19 counts of fraud by abuse of position and 20 counts of obtaining a money transfer by deception. He also admitted three counts of false accounting at North East Derbyshire and Dales Magistrates' Court, the Grantham Journal reports. Green entered no plea to two other counts of fraud, which the prosecution said would be withdrawn, although they may be reinstated at a later date. The 57-year-old was arrested earlier this month following an investigation by Derbyshire Police into his business, MG Financial Services. His offences stretch back to 1992 and he...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Regulation

Most funds set to see reporting reduction under latest FCA proposals

Most funds set to see reporting reduction under latest FCA proposals

FRAME structure

Michael Nelson
clock 14 July 2026 • 3 min read
FCA consults on simplifying consumer investment disclosures

FCA consults on simplifying consumer investment disclosures

Aligning MiFID and CCI

Michael Nelson
clock 02 July 2026 • 3 min read
Oberon Investments agrees to FCA restrictions on wealth management arm

Oberon Investments agrees to FCA restrictions on wealth management arm

Onboarding subject to permission amid systems and controls review

Jen Frost
clock 14 April 2026 • 1 min read