Andrew Bartlett of Northill Gardens, Malvern, pleaded guilty to five offences at Gloucester Crown Court.
The first two offences relate to dishonestly abusing his position as a financial adviser, the Worcester News reports.
The 48-year-old, who had worked at Lloyds TSB in Gloucester, paid £11,000 of client Lesley Bagshaw’s money and £40,000 of client Eileen Davis’ money into his property development company in 2009 rather than investing it for his clients as agreed.
The other three offences, for using criminal property, relate to his position as chairman of the finance committee at Dyson Perrins CE School.
He admitted to paying £67,500 between September 2005 and January 2006 into an account held by Payton’s Solicitors, knowing or suspecting it constituted benefit from criminal conduct.
A further sum of £16,000 was paid into Payton’s Solicitors between August 2006 and January 2007, while £4,000 was also paid into the account of Bartlett and Styles in August 2009.
His barrister, James Tucker, told the court: “He has co-operated fully with the investigation. All the money has been paid back.”
However, Judge William Hart said he could face “all sentencing possibilities, including custody”.
Bartlett has been released on bail and will return to court for sentencing on 20 July.
