An Ipswich-based financial adviser has been sentenced to four years in prison after he stole £300,000 ($383,628, €337,189) from elderly clients.
Luke Durrant siphoned money from 16 vulnerable customers into an account he set up, BBC News reported.
He admitted to committing fraud over nine years while working for financial advice firm Sophex.
Durrant was sentenced at Norwich Crown Court and Judge Stephen Holt said his crime was “nothing short of devastating”.
Gambling addiction
As well as defrauding his customers, Durrant also took fees that should have gone to his employers, the report said.
Durrant was based at the Nacton branch of the firm, which also trades as Lifetime Financial Solution.
Its owners were reportedly planning to make him a director until they discovered the fraud following a customer complaint in June 2018.
Their investigation led to the discovery of a bank account set up by Durrant with a name that was similar to the firm’s own account, which allowed payments to be directed to it.
Some of the scams included telling customers they had outstanding tax bills, for which he took payments totalling £260,000.
Durrant stole money between 2016 and 2018 to fund his gambling addiction, for which he has since sought treatment.
Reimbursed
Judge Holt said Durrant had “shown remorse” and admitted straight away what had happened.
All of Durrant’s victims have been reimbursed by the firm and their insurers.
