A former adviser has been sentenced to over five years’ imprisonment following a hearing at Newcastle Crown Court today.
In November, Money Marketing reported Alok Dhanda had pleaded guilty to 24 counts of fraud while an earlier case included an extra 13 counts of fraud.
Dhanda was given 68 months imprisonment on each count to run concurrently.
He ran advice firm Dhanda Financial until August 2013 and then worked at Truly Independent from September to November 2013.
At a hearing in April this year he was accused of fraud totalling £600,000 which the prosecution argued he used to fund his gambling habit.
The prosecution said Dhanda used client money he said was being invested in India property, to pay off debts worth over £1m.