Financial advisor jailed for property investment con

We have warned landlords and first time property investors many times that they need to be wary of financial advisers and property gurus calling themselves things spurious names like Wealth Alliance, Protum Property Partners, etc.  A little bit of digging will reveal that the business is probably being run from a bedroom in Northampton and that the owner has probably had several businesses that have gone bust and the investors have lost most of their invested funds only for the perpetrator to appear several months down the line in a new guise.

Financial advisor jailed for investment fraud

A Staffordshire mortgage broker was recently convicted of defrauding investors of almost half a million pounds of their savings by promising to use their funds to invest in property whilst only actually buying one property.  His claim was that the properties would be refurbished and then sold at a profit generating returns in excess of 25%.

Mark Lewis was sentenced to 6 years in jail.  To read the full report read this article.

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