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Adviser summoned to Crown Court over £1m investment fraud

A Sussex-based financial adviser has been ordered to appear before a Crown Court for his role in a £1m investment fraud.

John Field, 77, appeared before Hastings Magistrates Court on 10 September, charged with 12 offences of fraud by abuse of position, after an investigation by the Sussex Police Major Fraud Unit discovered he had stolen £1,021,944 between Febraury 2004 and August 2013.

Field is alleged to have abused his position as director of Meads Financial Consultants Ltd, an independent legal advice firm, to obtain the funds from 33 people who believed he would then invest it on their behalf. 

Following the hearing at Hastings Magistrates Court, Field was ordered to appear at an as yet undisclosed Crown Court on 13 October.

The case is ongoing.

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Comments

There are 4 comments at the moment, we would love to hear your opinion too.

  1. Is this man a Financial Adviser or a Solicitor?

    And why again does it take so long before these crimes are detected by the Regulator… 9 years in this instance?

  2. Another no win report for financial advisers. If he’s a solicitor we’ll be tarred with the same brush simply because some people chose to trust a solicitor to invest for them rather than a regulated adviser. If he is a financial adviser then Caroline Rookes will have a field day over unethical advisers.

  3. According to the FCA register he was a Sesame AR and CF30.

  4. Can you believe it a 77 grey haired old bloke advising what were sesame thinking of phillip is right sesame AR and CF30 AND 77 ?

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