IOU adviser gets 12 years

Financial adviser and Halifax agent Graham Price has been jailed for 12 years – after leaving an IOU for 7m in the branch safe.

Price stole almost 10m to fuel his horse racing obsession and was sentenced last week for “breaches of trust of the grossest order”. Swansea Magistrates Court heard that over four years Price took money from the safe and diverted funds from private investors’ accounts. In one nine-day spree he is thought to have stolen 3m.

Price falsified his clients’ bank statements to make it look like they were receiving interest. But no money was going into the accounts.Halifax says it has written to the customers involved and informed them the transactions were false.