Financial advisers jailed for £20m pension fraud

Mark Kelly and Rikki Nicholls jailed

Hope William-Smith
clock • 1 min read

Two former financial advisers who persuaded savers to transfer their pension funds into accounts which were then poured into unsuitable offshore investments have been sentenced to six years imprisonment.

Mark Kelly of Wilmslow, Cheshire and Rikki Nicholls of Limehurst Newtown, Worcestershire were sentenced at Southwark Crown Court on Friday (15 July) for conspiracy to defraud and money laundering. The court heard that many of the victims - in turn predominantly Equitable Life customers - had lost the entirety of their pension. Savers were persuaded by the two financial advisers to transfer their pensions into self-invested personal pension accounts controlled by Kelly. This was done by presenting victims with application forms to sign that included blank sections later completed by Ke...

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