Two brothers from Norfolk have admitted defrauding more than 200 people out of millions of pounds.
They used the cash to fund a lavish lifestyle including expensive cars and a private boat.
38-year-old Alan Taylor from St Stephen's Road in Norwich and Russell Taylor who is 37 and from Trunch Road in Mundesley used their company Taylor & Taylor Associates Ltd to scam clients out of vast sums of money between 2008 and 2015.
The brothers fraudulently produced client records and misrepresented documents and persuaded their clients, who were often elderly and vulnerable, to sign them in order to gain access to their pension funds.
Without the clients' knowledge, they then transferred the money to another company they owned, Vantage Investment Group Ltd., and placed them in a high-risk finance scheme.
It was a win-win situation for the two men - if the investments paid off they would take 20 per cent of the profits, and any losses were effectively funded by the client.
On average each client lost almost half of their total pension funds.