Financial adviser jailed for 11 years after £2m fraud

Timothy ‘Paul’ Barnes defrauded acquaintances, clients and a charity

Jen Frost
clock • 2 min read

A financial adviser who defrauded acquaintances, clients and a charity has been jailed over a near £2m fraud.

Timothy ‘Paul' Barnes, 68, of Charland Court, Droitwich, last September pleaded guilty to 34 counts of fraud by false representation, three counts of make/supply article for use in fraud and two counts of fraud by abuse of position. Last Friday (19 June), at Worcester Crown Court, Barnes was sentenced to 11 years in prison. Thirty-four of Barnes' victims were individuals who he approached for short-term "loans", ultimately totalling £1.75m. The fraudster initially, in November 2022, approached people he knew for the funds, under the pretence he needed them for either an inheritance...

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 Your profession

Why financial planning needs to wake up to neurodiversity

Why financial planning needs to wake up to neurodiversity

Finova Money’s Anna Butcher launches the Uniquely Wired Network

Isabel Baxter
clock 21 September 2026 • 4 min read
Ahmed Bawa: Why advisers need to ask themselves the long-term questions

Ahmed Bawa: Why advisers need to ask themselves the long-term questions

What do you need from your network?

Ahmed Bawa
clock 21 September 2026 • 5 min read
Advisers' Budget 2026 wish lists – 'this is a scary one'

Advisers' Budget 2026 wish lists – 'this is a scary one'

First under Burnham and Healey

clock 18 September 2026 • 3 min read