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Ex-adviser jailed for five years over fraud

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.

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Comments

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

  1. He will have plenty time and opportunity to play cards in the jail and try and win back some of his clients cash. If he gets caught cheating in the pokey he will find out what retribution means. Hope he gets his cracker pulled when he arrives at the nick.
    Guess you will see I am not big on Christmas cheer for people that steal off their clients.

  2. Will I ever hear of a banker been jailed for LIBOR or PPI or even exchange rate fraud, I wonder!

    Not that I am supporting this person he deserves what he got but when are we going to see some bankers jailed and more importantly NAMED with full colour mug shots appearing in the papers and tv!!!!

    Of course we won’t as they will get off and enjoy their multi million pound bonuses in retirement playing golf with their friends.

  3. This isn’t a very well written report. “68 months imprisonment on each count [of which the total is 24 + 13 = 37] to run concurrently” would mean he’s been sentenced to almost 210 years.

    And he didn’t work “at” Truly Independent. TI is a network, of which he was an AR.

    Tut, tut.

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