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Jailed: Trusted broker who stole from school
A 48-year-old Lloyds advisor who stole £138,500 from clients and a school where he was a governor has been jailed for 18 months.
Andrew Bartlett took the money in order to prop up his failing property development hobby. He was caught last year following an internal bank investigation into his management of one customer’s financial affairs.
Following the revelations of the investigation, and on arrest, Bartlett told police: “I can assure you this is the only case you will find.”
Later though, further inquiries showed that he had paid £11,000 of client money into his own firm, Bartlett and Styles, on April 14 2009. He also took £40,000 of another client’s money, ‘This is Gloucestershire’ reports.
Prosecutor James Tucker told Gloucester Crown Court: "He was offered a great deal of latitude by individuals and institutions he advised both with control and oversight of their funds and also his discretion in how those funds were invested.
"In relation to the school it is a significant breach of trust."
Bartlett had been a governor of Dyson Perrins CofE School in Malvern, which his children had attended, and was chairman of its finance committee at the time.
He utilised this position to transfer £87,500 from the school’s fundraising account to his company over a four year period, beginning in 2005.
The court was told that before his crimes had been uncovered, Bartlett had in fact repaid £68,000 of the money which he had ‘borrowed’ from the school. He had also reportedly repaid a client from Lloyds in full, with £352 interest.
At a previous hearing, Bartlett pleaded guilty to two fraud offences and three offences of converting criminal property.
Jailing Bartlett for 18 months, Recorder Stephen Hall said: "When all is said and done your conduct over a long period of time gives rise to a significant and large degree of breach of trust and for all of those reasons I have concluded that only an immediate sentence of imprisonment is appropriate."
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