Okay to explain what happened – a former financial adviser has been sentenced to two years in prison after stealing almost £200,000 from his clients. Geoffrey Fincher, 72, former director of Cheshire-based SK8 Financial Services, pleaded guilty at Chester Crown Court to 22 charges involving fraud and preparing false documents relating to seven victims according to the BBC. Jackie Nolan from Cheshire Police said most of the victims had been reimbursed and added: ‘He abused their trust to gain access to their life savings’
Fincher’s barrister said the defendant had returned the funds to five of his clients and had never intended to keep the money but use it as an ‘unofficial loan’. The Financial Conduct Authority removed permissions from SK8 Financial Services in December after it alleged Fincher failed to invest money on behalf of a client.
Fincher cancelled his own regulatory permissions on 28 November. Gary Simpson, Mersey-Cheshire Crown Prosecution Service, said: ‘When Fincher’s clients asked about their investments he produced false documents to back up his criminality or offered to pay some of the money back.
Let’s hope that this is one of the very few cases of this nature I ever have the disappointment to happen – I expect not – talking as a trusted adviser : trust is the lynch-pin of advice and the holistic advice process involves client and adviser over many years to achieve long-term goals.
You may have realised – I am furious that such an abuse of trust has happened and personally I believe that someone who is placed in such a trusted role should suffer a sentence far longer than a mere 2 years – rant over!!!!
