The Financial Conduct Authority (FCA) has started criminal proceedings against Kerry Nelson and Jacqueline Stephens for alleged fraud, forgery, and money laundering.
Nelson was director of both Nexus Independent Financial Advisers (Nexus IFA) and Nexus Investment Managers (Nexus IM). Stephens was business operations manager at the same firms. Nelson and Stephens have been charged with allegedly defrauding four clients, said to have lost £2m, between January 2019 and January 2023. They are also charged with using false documents. Nelson has been charged with a further money laundering offence relating to money that was allegedly withdrawn from the firms. The FCA claimed that the funds transferred from the accounts by Nelson were used to fund her "e...
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