You are here: Home - News -

Bogus financial adviser convicted of fraud faces six years in prison

  • 18/08/2016
  • 0
Bogus financial adviser convicted of fraud faces six years in prison
An independent financial adviser motivated by ‘shameless greed’ was convicted of two counts of fraud after tricking a pensioner out of her £650,000 home in Hampstead.

An Evening Standard report explained that financial adviser Tony Trivett remortgaged Rosemary Straker’s home and withdrew £46,000 within two weeks of a “sophisticated and audacious” deception, as the recorder badged it, spending the cash on a two-week luxury holiday in Thailand.

Blackfriars crown court heard Straker had agreed to give Trivett 5% of the proceeds once the flat was sold after her death, in return for clearing her mortgage. However, Trivett put the property, which she shared with her son and a lodger, in his name, remortgaged it for £425,000 and disappeared.

Straker was left with just £15,000 instead of the expected half a million pounds and faces repossession as Trivett has subsequently defaulted on the mortgage. Trivett has since fled and was convicted of two counts of fraud in his absence yesterday.

Recorder Nicola Shannon said: “It represented her [Straker’s] current and future security and she hoped to pass it on to her son. She worked very hard for many years to buy the property.

“Trivett exploited her trust for financial gain. He bamboozled her and took the property from under her nose. His callous disregard, patronising manipulation and sheer greed is expressed by him even reneging on giving her £15,000 of the £30,000 she expected for improvements.”

A warrant remains outstanding for Trivett’s arrest.

There are 0 Comment(s)

You may also be interested in

Read previous post:
Mark Posniak Dragonfly Octopus
Dragonfly funds £18.5m acquisition bridge at 68% LTV

Bridging lender Dragonfly Property Finance has provided a £18.5m acquisition bridge for the purchase of 50 residential properties in the...