Broadmayne financial expert jailed for £230K con (From Dorset Echo)

Broadmayne financial expert jailed for £230K con

3:00pm Tuesday 9th March 2010 in

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A FINANCIAL expert who fleeced his former partner of her £230,000 savings has been jailed for 12 months.

Stewart McRorie, aged 56, of Rectory Close, Broadmayne, cashed in investments belonging to Dr Sian Jay who trusted him to handle her finances, Southwark Crown Court heard.

Former Arthur Andersen and Financial Times employee McRorie forged Dr Jay’s signature and got his new girlfriend Ailsya Hamilton to pose as his ex.

McRorie pleaded guilty to two counts of conspiring to commit fraud by false representation on or around October 18, 2007.

He also admitted fraud by false representation and possessing criminal property.

The court heard McRorie and Dr Jay were together nearly 20 years.

Prosecutor Samantha Hatt said Dr Jay gave a large proportion of her British Museum earnings to McRorie, believing he would invest them on her behalf.

They opened a joint bank account which McRorie used to pay Dr Jay’s assets into.

Miss Hatt said: “They had remained in touch and Dr Jay agreed to McRorie managing her assets, which he moved to the joint account he kept open, and then moved them to an account in his name.”

Dr Jay later told McRorie she wanted to cash in all the investments he had made for her – a total of £230,000. By this time he was liquidating her assets and only sent her a cheque for £30,000,” said Miss Hatt.

“The focus of this case is the deception practised by these defendants on the institutions who thought they were dealing with Dr Jay.”

Miss Hatt said McRorie signed letters in Dr Jay’s name and Hamilton purported to be her in calls persuading global asset management company Schroders and Halifax Share Dealing to release funds. McRorie cashed in £19,641 with BlackRock investment Management in September 2007.

When he closed the HSBC joint account McRorie came into possession of criminal property – namely £25,300 from F & C Investments.

McRorie was ordered to pay her £56,000 compensation.

Hamilton, aged 47, of London, also pleaded guilty to two counts of conspiring to commit fraud. She was sentenced to six months imprisonment, suspended for 12 months and was placed under a year’s probation supervision.