An adviser who skimmed £500,000 from wealthy clients' funds and pocketed the interest has been jailed for five years.
This Is Lancashire reported Stephen Smalley stole money from five client accounts, including his dementia suffering father-in-law, while working as financial services manager at Forbes Solicitors. Preston Crown Court heard Smalley stole from clients who he thought were "wealthy enough not to notice". The website reported Smalley took £524,440, including £28,857 from his father-in-law, while offering advice on savings, investments and pensions. When he tried to leave his employer the crimes came to light. The court heard he had not spent any of the money, but was gaining interest...
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