Jail for advisor in £1.1m swindle
Tuesday 29th July 2008, 11:50AM BST.
A 57-year-old financial advisor who has worked in Shropshire has been jailed for six years and eight months after swindling more than £1.1 million from investors.Michael Tomlinson took money from 21 customers, promising to invest it, but instead ploughed it into his struggling business and personal bank account, Shrewsbury Crown Court heard.
Tomlinson, who is now estranged from his family, was in court yesterday for sentencing after previously admitting 21 offences of obtaining money transfers by deception involving sums ranging from £8,000 to £192,000 between December 1997 and September 2005.
Pamela Danks, who had £192,000 taken, had gone to him for advice while battling breast cancer and Tomlinson, of Pillory Street, Nantwich, also took £78,000 from his brother, David Tomlinson.
The defendant previously admitted knowingly being party to the carrying on of Acorn Holdings, trading as Acorn Growth and The One Group in Cheshire Street, Market Drayton, for fraudulent purposes, by defrauding investors of the company.
Miss Jane Osborne, prosecuting, said the loss of huge sums of money had had devastating effects on Tomlinson’s clients. Mr Mark Connor, for Tomlinson, said the defendant was “genuinely remorseful”.
Judge Robin Onions said he believed Tomlinson took the money after running into financial difficulty.
Shropshire Star on Twitter
Keep updated with the latest breaking news and content on our Twitter feed.
Lifestyle
Interactive Dining Out map
Hundreds of reviews by the Shropshire Star and Express & Star's teams to help you decide where to eat.
Entertainment
All the film reviews
Before you plan a trip to the pictures, get our critics' verdicts on all the latest movie releases.
OUR NEW APP
Get the new Shropshire Star app
Download the Shropshire Star’s new app to your iPad or iPhone to get one week of access to our digital newspapers absolutely FREE.
shropshirestar.com
Popular sections
Useful links
