Financial adviser jailed for £500k theft | AccountingWEB

Financial adviser jailed for £500k theft

A financial adviser who stole more than £500,000 from his clients has been jailed for five years.

Stephen Smalley skimmed cash from five customers’ investments, including his  father-in-law who had dementia, while working as a financial services manager at Forbes Solicitors.

The 49-year-old from Blackburn had worked for the firm for 19 years when he committed a ‘treble breach of trust’, Preston Crown Court heard.


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TaxTeddy's picture

Alert for compliance officers

TaxTeddy | | Permalink

So does this mean that internal compliance officers in lawyers and accountants firms are being routinely hoodwinked? Hope not.

davidwinch's picture

It had been going on for years

davidwinch | | Permalink

It is clear from the report that the thefts had gone on undetected for years.  That is rather troubling!