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Burley-in-Wharfedale fraudster jailed

Burley-in-Wharfedale fraudster jailed

Published by May Norman at 12:48pm 5th June 2019.

Over 10 years in prison for Burley-in-Wharfedale fraudster

  • Peter Adrian Dilenardo conned his victims out of more than £700,000
  • He's been sentenced to over 10 years in prison.
  • The 50-year-old used out-of-date financial accreditation to defraud his victims.

A man from Burley-in-Wharfedale, who defrauded his victims out of more than £700,000 has been sentenced to over ten years in prison.

50-year-old Peter Adrian Dilenardo, of Ron Lawton Crescent, Burley in Wharfedale, was found guilty at Leeds Crown Court of eight offences including fraud by abuse of positon of trust and fraud by false representation following a 9 week trial. He was sentenced yesterday (Tuesday 4 June).

The court heard how Dilenardo had previously been an Independent Financial Advisor authorised to give investment advice to clients relating to products regulated by the Financial Conduct Authority. That authorisation ended, however, on 13 February 2014.

Following this suspension he continued to give regulated advice to his clients, advising them to remove funds from regulated products and invest them into a company owned by him. He was the sole signatory on the company bank account and in total his clients paid £426,000 into the company.

On January 16, 2019 he was arrested – for fraud by false representation and perverting the course of justice – after he sold his client portfolio whilst subject to a restraint order. The proceeds of this were over £100,000 and this was paid into UK and USA accounts – accounts which had not been disclosed to the court.

Dilenardo was told by H/H Judge Neil Clark that he had been sentenced to 10 years and three months.

The total amount of money he conned out of his victims was revealed in court to be £747,000.

Ramona Senior, Head West Yorkshire Police’s Economic Crime Unit, said:

“Today, Dilenardo has been sentenced to a total of 10 years 3 months after a long trial and challenging investigation made more difficult at every turn by the defendant.

“He showed a complete disregard for his victims and the financial hardship and stress caused in defrauding them of over £747k. He also disregarded orders made by the courts and continued with his offending behaviour, actions for which he has also faced the consequences.

“If you’re considering any type of investment, always remember: if it seems too good to be true, then it probably is. Check the credentials of the company or individual you are dealing with and don’t agree to deals straight away. Take time to consider an offer and seek independent advice. Be particularly cautious when investing your money in land, carbon credits, wine or precious jewels/metals. Make sure any sites you invest through are genuine. Visit the Financial Conduct Authority’s ScamSmart site for advice on making safe investments.”

Dilenardo was found guilty of eight separate offences and admitted a ninth offence of contempt of court.

  1. Fraud by Abuse of Position of trust (pensions and investments) - 3 Years imprisonment
  2. Fraud by Abuse of position of trust (pensions and investments) – 3 years imprisonment to be served concurrently
  3. Make or Supply Articles for use in Fraud (forged signatures) – 3 years imprisonment to be served concurrently
  4. Fraud by False Representation (Orion Financial Ltd) – 4 ½ years imprisonment to be served consecutively
  5. Carry out a regulated activity when not authorised – 9 months imprisonment to be served concurrently
  6. Fraud by False representation (selling of client bank when restrained) - 21 months imprisonment to be served consecutively
  7. Fraud by False representation (selling of client bank when restrained) –21 months imprisonment to be served concurrently
  8. Perverting the Course of Justice - 12 months imprisonment to be served consecutively
  9. Contempt of Court –12 months imprisonment to be served concurrently.

In addition he was disqualified from being a Director of a Company for 9 years.

His offences were committed throughout the UK, but in the main in the North of England.

 

 

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