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Adviser in court over ‘£600k fraud to fund gambling habit’

A court has heard how a Newcastle-based adviser organised a £600,000 fraud to fund his gambling habit.

The Evening Chronicle reports that Alok Dhanda appeared earlier this month in North Tyneside Magistrates Court, charged with 13 counts of fraud.

The prosecution argues Dhanda convinced clients to invest in property in India but instead put the money toward paying off debts of over £1m.

Banks are reported to have originally raised the alarm over unusual transactions in Dhanda’s bank accounts, prompting a police investigation.

Dhanda denied 13 charges of fraud, and his solicitor says the money was given to Dhanda in loans to his business, arguing the matter should be pursued through civil and not criminal court.

Dhanda ran Dhanda Financial until August and held a variety of permissions through Tenet.

He then worked at Truly Independent from September to November. 

Dhanda is now being held in custody until his next hearing at Newcastle Crown Court on 30 April.

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