Derbyshire financial adviser jailed for £1m deception

24/02/2012

A Derbyshire financial adviser has been sentenced to five and a half years in prison for selling fake financial products over a number of years, offences described by Janine Smith, CPS East Midlands' Senior District Crown Prosecutor in Derbyshire, as 'a sustained campaign of dishonesty'.

Malcolm Green handed himself in to Derbyshire Police in March 2011 and admitted that he had taken money from his clients for fictitious financial products. Instead of investing their money as they had believed, he paid it into an account he used for his own expenses.

CPS East Midlands authorised charges for over 40 offences, totalling almost £1 million.

Janine Smith, Senior District Crown Prosecutor said: "Malcolm Green admitted to a sustained campaign of dishonesty, fraudulently taking payments from clients who saw him as a friend.

"Many of his victims were vulnerable, and this added to the seriousness of his offending.

"Prosecuting this case was particularly complex, as many of the offences he admitted to were committed before the current legislation, the Fraud Act 2006 came into force. Each had to be charged according to the laws in place at the time they were committed.

"The scale of Mr Greens offending is quite staggering, with the amount of money he took and the time over which he defrauded his victims. He has now faced the consequences of his actions in the criminal and civil courts."