You are here: Home - Retirement -

Adviser who stole from client’s pension ordered to pay back £250k

0
Written by:
14/10/2014
An adviser who stole more than £200,000 from a client's pension has now been ordered to pay it back, plus interest, as well as serve three years in prison.
Adviser who stole from client’s pension ordered to pay back £250k

Jonathan Pollard was ordered to pay an elderly former client £250,000 after being convicted of two offences of theft by Lewes Crown Court, dating back to 2006.

The court found Pollard stole from the elderly man, who was deemed “vulnerable through illness”, after arranging for a power of attorney to look after his financial affairs.

He arranged for the man’s flat to be remortgaged and withdrew £215,000 from his pension “without his knowledge or agreement”, which he then pocketed.

After Pollard was sentenced to three years in prison in October 2013, a police financial investigator carried out an examination of Pollard’s financial affairs and assets, Sussex police said.

On 26 September this year the court made a Confiscation Order under the Proceeds of Crime Act (POCA) for £254,306.79, the entire amount to be paid to the victim.

This figure includes an extra £49,306.79 to take account of the increase in the value of money since the time of the offence.

Pollard was ordered to pay £57,000 up front and given six months to pay the remainder.

If he fails to do so, he will be liable to three years further imprisonment and the debt will increase with interest charges, the police said.

Sussex Police detective inspector Mick Richards said: “We hope this is of further assistance and comfort to the victim and his family, and it also demonstrates that we can and will pursue offenders beyond conviction, for their ill-gotten gains.”

This is the second adviser related case dealt with by Sussex Police in recent weeks.

 

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Why NS&I may need to trim interest rates for millions of savers

Savers continued to plough money into National Savings and Investment (NS&I) in April, though at a slower...
Why NS&I may need to trim interest rates for millions of savers

How to get 9% interest without tying up your savings for years

You don't have to lock your money away for years to get above-average returns on your savings.
How to get 9% interest without tying up your savings for years

NS&I makes it easier to top up Premium Bonds

NS&I has started rolling out an alternative way to make payment, which should make it easier and more secu...
NS&I makes it easier to top up Premium Bonds

Ryanair jetting towards US flights for £10

Ryanair is on course to achieve its long-held ambition of offering transatlantic flights to the US – and the...

Investing in car parks: a good vehicle for income seekers?

As the search for income continues, many investors are turning to alternatives, with car parks becoming increa...

A quick guide to guarantor loans – in association with Guarantor Loan Comparison

Considering a guarantor loan or becoming a guarantor yourself? Read our essential guide...

Results round-up: Companies to watch this week

Mulberry and more will face the music this week.

Product launches of the week

Select Property Group, Schroders, Leeds Building Society and more have exciting news this week.

Money Tips of the Week