FSA bans adviser who stole £1m from clients

An adviser jailed earlier this year for more than 40 fraud-related offences has been banned by the Financial Services Authority (FSA).

In January, Malcolm Green was convicted of 20 counts of obtaining a money transfer by deception, 19 counts of fraud by abuse of position and three counts of false accounting. He was sentenced a month later to five years and six months imprisonment. Green, who worked for Derbyshire-based MG Financial at the time of the offences, handed himself into police in March last year and was subsequently charged with 44 counts of fraud. It was suggested up to £1m of client money had been misappropriated by Green between 2001 and 2004. The FSA said it was clear Green was not a fit and prope...