19 Oct 2012

Financial adviser sentenced to seven years for fraud

6:15 pm on 19 October 2012

A former financial adviser who defrauded investors of almost $15 million in a Ponzi-style scheme has been sentenced to seven years and five months in jail.

Jacqui Bradley was found guilty of 75 Crimes Act charges in September and was sentenced on Friday at the Auckland District Court.

She and her late husband were directors of B'On Financial Services Limited which sought money from clients on the pretext of investing in various funds they had established.

The money was used to make repayments to other investors and to fund the couple's personal lifestyle. Investors were defrauded of $14.4 million.

The Serious Fraud Office brought the charges and acting chief executive Simon McArley says investors trusted Bradley and that cost some of them their life savings.