A former adviser has pleaded guilty to 22 offences relating to theft and fraud.
Geoffrey Fincher, the former sole director of Cheshire-based investment advice firm SK8, appeared at Chester Crown Court last week.
He was charged with 32 offences, of which 31 are contrary to the Theft and Fraud Acts. The other was attempting to pervert the course of justice.
Fincher pleaded guilty to the following offences: two counts of theft, one count of making/supplying an article for use in fraud, seven counts of obtaining money transfer by deception, eight counts of dishonestly making false representation to gain for self or cause loss to another/expose another to risk, one count of obtaining false information relating to accounts, two counts of aiding and abetting for making/supplying an article for use in fraud and one count of furnishing false information.
Of the remaining 10 charges, nine are to lie on file and the prosecution offered no evidence in respect of attempting to pervert the course of justice.
Fincher was bailed for sentencing and is due to attend a sentence hearing on 28 October.
In a supervisory notice published in December, the FCA removed SK8’s permission to advise on and arrange deals in investments.
The FCA found that Fincher accepted money from customers for investment despite neither him nor the firm having permission to hold or control client money, and failed to invest the money as agreed or at all.