Adviser jailed for 14 months for defrauding elderly client

A Reading-based adviser has been jailed for 14 months for defrauding an elderly client of £58,000 according to the Henley Standard.

Sanjay Parmar admitted four counts of fraud by abuse of position when he appeared at Guildford Crown Court, according to the paper.

It said Parmar accepted four cheques totalling £58,000 from a 93-year-old woman between April and June 2010. She was told they would be paid into her savings account.

The money was never paid into the account and a relative to the victim sought legal advice, it said.

According to the Henley Standard, Andrew Skoglund, who investigated the case, said: ‘This man was in a position of trust and used this to take advantage of a vulnerable, elderly victim who believed she was handing over money in good faith to invest in her savings.’