Financial Advisor jailed for fraud
Thursday, July 22nd, 2010
Adrian Bancroft was jailed by Teesside Crown Court today for defrauding his clients out of their investments. He was found guilty on 18 charges of stealing over £300,000 from his victims, one of whom lost his home.
Last March, the FSA warned customers of UK Expatriates Independent Financial Advisory Services (UEIFAS) that their investments may not be as safe as they thought.
The company, which traded from offices in both Middlesbrough and its registered address in Wrexham, north Wales.
Bancroft was jailed for three years.
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