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Ex-financial adviser jailed for £740k fraud | |
(32 minutes later) | |
A former financial adviser who conned his clients out of nearly £750,000 has been jailed for more than 10 years. | A former financial adviser who conned his clients out of nearly £750,000 has been jailed for more than 10 years. |
Peter Dilenardo, 50, showed a "complete disregard" for his victims, West Yorkshire Police said. | Peter Dilenardo, 50, showed a "complete disregard" for his victims, West Yorkshire Police said. |
Dilenardo, of Burley-in-Wharfedale, near Ilkley, was convicted of eight fraud offences after a trial. | Dilenardo, of Burley-in-Wharfedale, near Ilkley, was convicted of eight fraud offences after a trial. |
At Leeds Crown Court earlier he was jailed for a total of 10 years and three months, and banned from being a company director for nine years. | At Leeds Crown Court earlier he was jailed for a total of 10 years and three months, and banned from being a company director for nine years. |
Police said he had worked as an independent financial adviser who was authorised to give investment advice about products regulated by the Financial Conduct Authority. | Police said he had worked as an independent financial adviser who was authorised to give investment advice about products regulated by the Financial Conduct Authority. |
But when that authorisation ended in 2014, he continued to advise clients to take money out of regulated funds and invest them in his company - Orion Financial and Luna Property Management, based in Otley. | But when that authorisation ended in 2014, he continued to advise clients to take money out of regulated funds and invest them in his company - Orion Financial and Luna Property Management, based in Otley. |
He conned his victims from around the UK out of a combined £747,000, according to the force. | He conned his victims from around the UK out of a combined £747,000, according to the force. |
Dilenardo then sold his client portfolio despite a restraint order, and paid more than £100,000 worth of proceeds into UK and US accounts. | Dilenardo then sold his client portfolio despite a restraint order, and paid more than £100,000 worth of proceeds into UK and US accounts. |
After a nine-week trial, he was found guilty of eight fraud offences including abuse of position and false representation, selling client bank accounts, forging signatures, carrying out a regulated activity unauthorised, and perverting the course of justice, | After a nine-week trial, he was found guilty of eight fraud offences including abuse of position and false representation, selling client bank accounts, forging signatures, carrying out a regulated activity unauthorised, and perverting the course of justice, |
He also admitted a ninth offence of contempt of court. | He also admitted a ninth offence of contempt of court. |
Ramona Senior, of West Yorkshire Police's Economic Crime Unit, said Dilenardo had shown a "complete disregard for his victims and [their] financial hardship and stress". | Ramona Senior, of West Yorkshire Police's Economic Crime Unit, said Dilenardo had shown a "complete disregard for his victims and [their] financial hardship and stress". |
Follow BBC Yorkshire on Facebook, Twitter and Instagram. Send your story ideas to yorkslincs.news@bbc.co.uk. | Follow BBC Yorkshire on Facebook, Twitter and Instagram. Send your story ideas to yorkslincs.news@bbc.co.uk. |
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