Ex-IFA jailed over £350k theft from elderly clients

A former financial adviser has been sentenced to six years in prison after a court found him guilty of stealing over £350,000 from four elderly and vulnerable people.

Peter Bottomley, from Morecambe, was an authorised independent adviser until 2003. But after his authorisation ceased he continued to manage the finances of some elderly people, often with no next of kin.

Using his position, Bottomley stole £356,883.16 from four elderly and vulnerable people.

The full extent of Bottomley’s crimes were revealed following an investigation into his dealings with one victim, a cerebral palsy sufferer from whom he stole £103,646,48.

Further investigation then revealed Bottomley had tricked another three individuals into signing wills to his benefit.

Crown Prosecution Service specialist fraud division deputy head Elizabeth Jenkins says: “It was clear that Peter Bottomley selected his victims because he thought their age, and in one case their cerebral palsy, made them easy targets.

“We asked the court to reflect the pernicious way in which he targeted these vulnerable victims in its sentencing.

“Crimes like this should not pay and we have already succeeded in restraining £1.3m worth of Peter Bottomley’s assets. We’ll now continue to work hard to ensure this money is recovered and his victims are compensated.”