Manhunt begins for financial advisor

Manhunt begins for financial advisor

A fake advisor who was found to have caused losses of more than three quarters of a million pounds belonging to creditors has been.

A fake advisor who was found to have caused losses of more than three quarters of a million pounds belonging to creditors has been sentenced to eight years in prison.

John Davies, 53, of Dean Forest Way, Broughton, Milton Keynes, targeted a number of struggling companies and claimed to be able to assist with restructuring their debt.

He posed as an insolvency and business adviser to distressed businesses, even though he had no licence.

After gaining the firm’s trust, he took control of their assets and would later pocket the cash intended for creditors. In all, nine businesses lost more than £775,000.

Davie’s actions triggered the closure of some businesses and the loss of jobs and bankruptcy for some.

Adrian Foster, Chief Crown Prosecutor for Thames and Chiltern Crown Prosecution Service (CPS) condemned Davies’ conduct: “Serial fraudster Davies effectively ran a business to defraud, exploit, and extract money from vulnerable victims. He did not act in the best interests of his clients, and was motivated purely by money and greed.

“He is clearly a very selfish, dishonest and callous man. Numerous people lost their jobs, livelihoods and companies. The offences committed are despicable, pitiless and heartless.”

Officers will now begin a man hunt for the fraudster after a court found him guilty of 12 counts of fraud in his absence.

Earlier this month, Davies failed to attend court during his six week trial at Aylesbury Crown Court, leading to a warrant being issued for his arrest. Officers spent two years gathering evidence on the case.

After snatching the cash, Davies proceeded to spend the stolen money on a life of luxury, purchasing  a new upmarket home fitted with a high-tech cinema system and new kitchen.

The crimes took place over a six year period from 2007 to 2013 at a range of struggling firms throughout Berkshire and Kent.

Investigating officer, DC Stephanie Burleigh, from the Thames Valley Police Economic Crime Unit, admitted that tracking Davies was now the force’s number one priority.

She said: “Although I am pleased with this sentence, it is now vital that we trace Davies so that he can serve his time.

“As the judge said during sentencing, Davies has shown flagrant disregard to this court case. He has deliberately absconded and I appeal to anyone who knows of his whereabouts to contact police.

Anyone who has any information relating to Davies’ current whereabouts is urged to call the 24-hour Thames Valley Police enquiry centre on 101.  

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