The Financial Conduct Authority (FCA) has banned Shruti Patel from performing any function in relation to any regulated activity.
The watchdog said she used to work as an adviser under six different names – including Cindy Brad, Swati Patel, Swatiben Patel, Churuti Patel, and Churuti Brad – despite never being an authorised professional.
Under the name Shruti Patel, she was an appointed representative at a regulated mortgage advice firm between May and August 2009; and under the name Cindy Brad she worked as an appointed representative of an authorised IFA business between August 2017 and February 2018.
Previous disqualification
According to the FCA, Patel had already been convicted in 2009 of three counts of theft, three counts of obtaining a money transfer by deception, and one count of obtaining services by deception.
She pleaded guilty to the charges for offences committed between 2004 and 2006.
The unauthorised adviser was sentenced to 18 months’ imprisonment, disqualified for 10 years, and received a confiscation order of £13,116 ($151,255, €125,212).
She was convicted as Shruti Patel, but the FCA said she changed her name “during the course of the investigation and criminal proceedings” and “her birth name is Swati Patel”.
Despite her many aliases, when she was working as an IFA, she was still subject to the 10-year disqualification order imposed by the court in 2009.
