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Adviser jailed for stealing £465k from dementia sufferer

A bank adviser has been jailed for five years after stealing over £450,000 from a 91-year-old dementia sufferer and her now late husband, the Herald reports.

Mark Townson, 52, of Bailleston Glasgow, took savings to pay off debts, but denied stealing money from the couple, and was found guilty in mid-March.

Townson was sentenced this weekend in Paisley, Herald Scotland reports.

The court heard he siphoned £465,090 off their £1.4m nest-egg between January 2011 and December 2012.

Working at L&G at the time of the thefts, Townson claimed the initial £385,090 he took was a gift, offered to help him after he had spent much of his mother’s estate before she died.

The next £80,000 was taken as an investment, Townson claimed, promising to make the couple 5 per cent profit, or £4,000.

He advised the clients initially at a Virgin Money branch in Glasgow. Legal & General has a bancassurance partnership with Virgin Money, and Townson worked for L&G for 18 years.

Sentencing, Sheriff Tom McCartney said: “The only appropriate way of dealing with this matter is a substantial prison sentence.” 

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Comments

There are 3 comments at the moment, we would love to hear your opinion too.

  1. correlationstreet 30th March 2015 at 12:40 pm

    I’m not sure I agree with Sheriff Tom McCartney. I’d like to see the economics of locking up a non-violent man for a substantial period of time vs balancing social contribution to society. Surely there are enough charity/social projects in need of low paid boots on the ground to relieve our over crowded prisons of such persons?

  2. Contractually anon 30th March 2015 at 2:10 pm

    It might be cheaper to not lock up a non-violent man, but the denial of guilt would indicate a prison sentence is appropriate. There is little good in him making his contribution to society if he hasn’t worked out what he did to damage it yet, and really not a good idea putting him in contact with more vulnerable people through social projects until there is evidence he has been rehabilitated.

  3. I’m glad that this article makes plain that the culprit in this case wasn’t just “a financial adviser”.

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