Bogus financial advisor jailed

6 June 2019, 17:01 | Updated: 6 June 2019, 17:02


A former financial advisor has been jailed for two years after being convicted of fraud by false representation.

Stephen Potter, 47, of Withens Lane, Liscard, claimed he was acting for a financial solutions company when he approached members of the public stating he could assist with their financial debts by consolidating them and liaising with their creditors.

In order to assist he needed to be licensed by the financial conduct authority but his license had expired in 2009 and he failed to renew it.

Between 2009 and 2016 Potter obtained over £40,000 from four of his customers, of which he appropriated over £30,000.

Today, at Liverpool Crown Court, Potter, was convicted of four counts of fraud by false representation and carrying out a regulated activity otherwise than in accordance with permission and was jailed for two years.

His wife Amanda Flynn, 46, of Hereford Avenue, Upton, Wirral, appeared at Wirral magistrates court last month where she was fined £2,500 for data protection offences.

DI Holly Chance, from Merseyside Police’s Economic Crime Team said: “Each of the four customers was financially vulnerable when Potter approached them.

“He was able to target his victims after his wife took a job at a debt collection agency in Greater Manchester and provided him with lists of indebted people and he took advantage of them.

“Although we can’t return their money to them I hope that today’s court case and Potter’s sentencing will give them some degree of satisfaction.

“I would also like to reassure the public that reports of any kind of fraud are taken extremely seriously and will be thoroughly investigated.

"If someone believes they have fallen victim to any kind of fraud then I would urge them to contact Action Fraud via their website or by calling 101 or the confidential Crimestoppers line on 0800 555 111."