Cardiff-based adviser cleared of conning mother out of £137,000

'Nobody has won'

Sophie King
clock • 1 min read

A jury at Newport Crown Court has cleared financial adviser Simon Haydock of accusations he defrauded his elderly mother out of £137,000.

Cascade Wealth Management managing director Haydock, 49, was cleared of conning his mother out of £137,000, according to BBC reports. The court had heard he had spent cash given to him by his mother on high-risk investments and gambling. However, Haydock insisted his mother had told him to "have the money and enjoy it" with his family. Initially, the court had heard he had paid money to the betting company Betfair and spent tens of thousands of pounds in a short amount of time. Jurors also heard his mother had given the money to her son to invest on her behalf, after selling her home ...

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 People

Next Generation Advisers: Meet Nova Wealth's Lauren O'Loughlin

Next Generation Advisers: Meet Nova Wealth's Lauren O'Loughlin

‘I wanted to have my own success’

Isabel Baxter
clock 26 June 2025 • 5 min read
People Moves: CISI and Rathbones veteran elected as City of London sheriff

People Moves: CISI and Rathbones veteran elected as City of London sheriff

Chartered Fellow Robert Hughes-Penney takes office in September

Professional Adviser
clock 25 June 2025 • 1 min read
Former Ascot Lloyd CEO succeeds Eddy Reynolds at TrinityBridge

Former Ascot Lloyd CEO succeeds Eddy Reynolds at TrinityBridge

Nigel Stockton led Ascot Lloyd for eight years

Sahar Nazir
clock 24 June 2025 • 2 min read