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.