A financial adviser who fraudulently manipulated his clients’ pension funds to avoid paying tax of over £1.9m has been jailed at Hull Crown Court for three years. Colin Pearson, 47, claimed to be a financial adviser and persuaded over 30 of his clients to release over £3.4m from their pension funds. He then completed UK pension transfer forms on behalf of clients to falsely claim the funds were going abroad to avoid paying tax due on the pension withdrawals.

He provided fake documentation to register two overseas pension schemes, and subsequently submitted the fake documents using false names, addresses, references and signatures to ensure the pension funds were released without suspicion or delay, to bank accounts that he controlled.

To add further legitimacy to the scam, he used articles from the internet to create a PowerPoint presentation to explain and sell the scheme to unsuspecting UK clients. He then took a cut of the funds before passing the balance onto the pensioners. In total, Pearson persuaded over thirty UK pension holders to make unauthorised transfers of £3.4 million to avoid paying.....Read more on this story-----> Credit Today online