A FINANCIAL adviser whose business got into trouble swindled nearly £300,000 from two of her elderly clients.
To outsiders, Leanne Nicholson lived an affluent lifestyle, running her advice service from her
Darley Abbey Abbey home.
The 47-year-old mother-of-two music-lover drove a luxury Lexus SUV and rented a grand piano for her home.
But, a court heard, her financial advice business was in trouble and she took £290,000 from two of her clients, one in his 90s from
Breadsall and the other in his 80s from Mansfield.
Nicholson wormed her way into the affections of the men, meeting them in their homes regularly and sending them Christmas cards. One remembered an occasion when she turned up with a flask of coffee and an egg sandwich.
Prosecutor David Allan said Nicholson "subverted the trust" of the vulnerable men.
Sentencing her at
Derby Crown Court to two years and four months in jail, Recorder Andrew Smith QC said: "You substantially abused your position as an independent financial adviser.
"The effect of your offending is not to be under-estimated, you have caused them (the victims) stress and anxiety and introduced uncertainty into their lives and that of their families.
"(One of the victims) told police your actions had made him want to die and these events had ruined his life."
Nicholson claimed she had intended to pay back all the money.
Nicholson, now of Meadow Vale,
Duffield, pleaded guilty to six counts of fraud by abuse of position committed in 2010 and 2011. Just before she was sentenced, she told the Derby Telegraph the affair had been a "very distressing episode" in her life and there had been a "pernicious and relentless pursuit" to prove her dishonesty.
She said: "The sooner this phase is concluded, the sooner I can work towards putting things right and reimbursing the individuals affected."
But, passing sentence, Recorder Smith said she had been told in 2011 her business had been poorly administered and, in effect, insolvent.
Mr Allan told the court: "She persuaded two of her elderly clients to loan her £290,000 in several tranches over two years. By 2010, at the latest, her finances were such that she must have known there was a serious risk she could not repay the loans and therefore her actions were dishonest.
"She has now been declared bankrupt and it appears that her old clients will never recover the vast majority of what they lent her."
The court heard the older victim, who was frail and had recently lost his wife, was defrauded of £80,000. Part of the money had been left by his wife to pass on to their children. He told police he felt "a fool" and his daughter said: "My father feels he was the custodian of my mother's estate... and feels he has failed his children."
Mr Allan said the other victim, who lost £210,000, feared he would have to sell his house to pay off a £61,000 tax bill incurred by cashing in an investment bond in order to give Nicholson the money.
The court heard that Nicholson had used the money to pay off personal and business debts.
Philip Bown, in mitigation, said: "She has abused her position but it was not her intention to permanently deprive and there isn't any indication that Leanne Nicholson in any way wanted to cover up the financial arrangements that had been arrived at between her and the two unfortunately elderly clients."
He added: "She is deeply sorry – her remorse is palpable."
Police started to investigate the case after family members of one of the victims contacted trading standards.
A compensation hearing will take place at a later date.
