heap Financial advisor who conned clients out of more that £1 million is jailed

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A FINANCIAL advisor who conned pensioners, widows and even his own family out of £1.2 million has been sent to prison for five-and-a-half years.

Debt-riddled Malcolm Green claimed to have more than 2,000 clients on the books of his financial and insurance service on Wharf Road, Pinxton.

But when business took a dip in the 1990s he began syphoning large sums of his clients’ money into private accounts in a bid to keep the company afloat.

Burdened by guilt - Green eventually owned up to his crimes in March last year.

In January he appeared in court and pleaded guilty to 42 separate offences of obtaining money by deception, fraud by abuse of position and false accounting in January.

Sentencing him at Derby Crown Court on Friday, recorder David Mason said: “These people trusted you Mr Green and you blindly deceived them into thinking you were helping them save for the future.

“You will deserve and receive a long prison sentence.”

Penniless Green, 57, from Swanwick, represented himself in court as his £50,000 debt left him ineligible for Legal Aid and unable to afford a barrister.

With more than 20 of his victims looking on at Crown Court, he delivered a sobbing apology to the gallery.

He said: “My deep remorse at my actions and I use this opportunity to offer sincere and heartfelt apologies for those I have stolen from.

“My actions are inexcusable.

“I did wrong and I wished to put an end to this nightmare that I had created.”

At times breaking down through tears, and with his wife and children looking on, he continued: I have stolen from a number of people that trusted me and the guilt will haunt me forever.”

Green said the money was not used to fund a ‘lavish lifestyle’ or expensive tastes, claiming his continued deception was because he did not want to let family, staff and the people of Pinxton down. He could not bare them to see him as a failure, he said.

Recorder Mason gave credit to Green for his confession and remorse. When Green turned himself in on March 1, 2011, he took with him a 15-page dossier, outlining the extent of his 13-year deception in the form of a confession, the court heard.

when interviewed by the police, Green admitted to officers that his debts were so bad, the only feasible way of repaying them would have been through winning the lottery.

With no assets left due to various debts already settled, Green was only ordered to pay the sum of £1 towards compensating his victims under a nominal confiscation order.

To read more including interviews with some of the victims of Green’s crimes, get Thursday’s Ripley and Heanor News.