A FINANCIAL adviser who swindled clients – most of them elderly – out of £1m was jailed for six years and eight months at Shrewsbury Crown Court on Monday.
Michael Tomlinson (57) of Pillory Street, Nantwich, who had offices in Market Drayton, admitted 21 offences of obtaining money transfers by deception, involving sums ranging from £8,000 to £192,000.
He also admitted knowingly being a party to carrying on the business of Acorn Holdings in Cheshire Street, Market Drayton, for fraudulent purposes.
The court was told that one of the victims of his fraud was his own brother.
Prosecutor Miss Jane Osborne said the picture was one of fraud over a number of years involving a total of £1.12m. Tomlinson was managing director of Acorn Holdings Ltd. InŠmost cases the elderly victims – from North Shropshire and South Cheshire – were retired people who wished to plan for their old age or build up useful sums to pass on toŠ their children or grandchildren.
The victims handed over substantial sums to Tomlinson who used the money to prop up his own businesses which had been struggling for some time, or to finance his personal lifestyle.
For the full story, see Thursday’s Herald.
