Fraudulent Financial Adviser Jailed for 4 Years

A fraudulent financial adviser, Ian Hudson trading as Richmond Associates, has been sentenced by Southwark Crown Court to 4 years in prison.

Mr Hudson, pleaded guilty to carrying FCA regulated investment activities in the period 2008 to 2019 without any FCA authorisation.

During his time, Mr Hudson was accused of advising on and arranging regulated mortgages as well as taking investment deposit monies from clients.  He claimed at the time to be taking client monies and depositing them in the Richmond Associates to then be invested in a range of financial vehicles.  This did not happen.

It is understood that over £2m was deposited by investors with Mr Hudson and that much of the money was used to either pay back refunds of other ‘clients’ cashing in as well as funding his own lifestyle.

Comment

Our advice to any potential investor is always to check the FCA register to ensure that both an adviser and also the firm is authorised by the FCA before you part with a penny.

FCA Register:  https://register.fca.org.uk/s/