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Former Honister adviser jailed for £380k fraud

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  • 23/08/2012
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Former Honister adviser jailed for £380k fraud
A former Honister adviser has been jailed for two years and nine months for swindling clients out of £380,000.

Angus McClymont was sentenced at Winchester Crown Court on Monday after pleading guilty to 14 counts of fraud by abuse of position between April 2008 and October 2011.

The Salisbury-based adviser’s victims were mainly of retirement age and came from across Wiltshire, Somerset, Dorset, Sussex and Cornwall, the Salisbury Journal reports.

The 40-year-old’s defence claimed he had been going through difficulties in his marriage and that his baby son had been suffering health problems, meaning his living expenses were exceeding his income.

Sentencing McClymont, recorder Andrew Barnett said: “This is an appalling case of confidence fraud where you as a financial adviser behaved in a thoroughly dishonest way.

“You should be utterly ashamed, you ruined people’s lives I have no doubt.

“You have put back a certain amount but I understand there is still £300,000 outstanding, which is an awful lot of money.”

Among McClymont’s victims were some existing clients, while others were obtained through referrals or cold-calling.

According to the Financial Services Authority register, McClymont was an adviser with Honister Partners between 2009 and 2011, having previously been an appointed representative of Regent IFA.

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