A man from Burley in Wharfedale, who defrauded his victims out of more than £700,000, has been sentenced to more than ten years in prison.
Peter Adrian Dilenardo, 50, was found guilty at Leeds Crown Court of eight offences including fraud by abuse of position of trust, and fraud by false representation, following a nine-week trial.
He was sentenced yesterday (Tuesday 4 June).
Dilenardo, of Ron Lawton Crescent in Burley in Wharfedale, continued to give regulated advice to his clients, even after his authorisation to act as an Independent Financial Advisor had lapsed.
Dilernardo advised them to remove funds from regulated products and invest them into a company owned by him. He was the sole signatory on the company bank account, and in total his clients paid £426,000 into the company.
“He showed a complete disregard for his victims and the financial hardship and stress caused in defrauding them of over £747k.
Visit the Financial Conduct Authority’s ScamSmart site for advice on making safe investments.