Former Nexus IFA director Kerry Nelson and business operations manager Jacqueline Stephens have pleaded guilty to fraud charges after four clients lost £2m.
Nelson, director of Nexus Independent Financial Advisers and Nexus Investment Managers, and Stephens, Nelson's employee, admitted all charges brought by the Financial Conduct Authority (FCA) at Portsmouth Crown Court yesterday (12 October). The pair are due to be sentenced in December. The offences took place between January 2019 and January 2023 and involved defrauding clients and using false documents. Nelson also admitted a money laundering offence relating to money withdrawn from her firms, which she used to fund her "extravagant" lifestyle, the regulator said. FCA executive di...
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