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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.


Tenet sets a ‘live in five’ challenge

Tenet, which recently launched a web building facility, has set itself a live in five challenge – to have pre-approved sites built and live on the web within five minutes.Advisers attending recent Tenet roadshows and professional development meetings handed in their business cards to a Tenet marketing consultant and when they returned from their seminar, […]

Pru report shows imput of state benefit in pensions will decrease

A report released about the sources of pensioner income in the UK shows that from next year, the state will cease to provide the majority of retirement income. The Pru-Datamonitor report shows that in 2006, state benefits will account for less than 50% of the average pensioner income. Today, 51p of the average pensioner pound […]

em-international launches Spanish product at Expo

em- international has announced a semi-exclusive product for the Spanish market to be launched at the Mortgage Business Expo this week.The product is interest only for the first 10 years then 15 years repayment thereafter.Roger Morris, managing director at em-, says: By UK measure this may not seem like a big deal, however for the […]

FSA fines IFA for rogue advertising

The FSA has fined an independent financial adviser firm 60,000 for misleading financial promotions – meaning it’s ready to crack down on rogue mortgage advertising, too. The promotions were issued by an unregulated firm, Regal Partners, which acted as an introducer for Maidstone-based IFA Kings, and concerned pension unlocking. They took the form of TV […]


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