Norwich-based financial advisers Alan and Russell Taylor have been convicted of orchestrating a £17.5m fraud which conned more than 200 elderly and vulnerable clients.
The brothers used their financial advice business, Taylor and Taylor Associates, to run their fraudulent activities over a six-year period. They pleaded guilty to conspiracy to defraud at Norwich Crown Court. The Crown Prosecution Service (CPS) said the pair targeted retirees, or those approaching retirement, to persuade them to invest in a high-risk scheme called the Vantage Trader Fund. The pair told clients the fund was totally safe but it was, in reality, a high-risk contracts for difference arrangement. The CPS said contracts for difference were effectively bets on stoc...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- 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
