Former adviser Darren Say has been found guilty on two counts of fraud.
Say (pictured) was found guilty by a jury vote at Chelmsford Crown Court last week.
He was convicted of dishonestly making false representation to make gains to self or another, and for carrying on the business of a company with the intent to defraud creditors, a spokeswoman from Chelmsford Crown Court confirmed to New Model Adviser®.
Say was charged by the police last January with fraud by abuse of position relating to a company called Noisnep. This business was separate from Essex-based advice firm Wealth Connection, where he was a director between 2011 and 2013.
At the time he was charged the police said: ‘The charge relates to allegations that he committed fraud while occupying a position in which he was expected to safeguard, or not to act against, the financial interests of Noisnep Sipp members, between 1 January 2009 and 20 January 2016.’
Last October the jury at Chelmsford Crown Court failed to reach a verdict and the case was sent to a re-trial.
Following this re-trial the jury came to an unanimous verdict last Thursday. Say was released on bail. He will be sentenced on 17 August.