A financial manager from Bradford on Avon made more than £2 million through a series of fraudulent acts involving investment policies held with a pensions firm in Salisbury.
Paul William Patrick Wood, 49, of Orchard Farm in South Wraxall, appeared at Swindon Crown Court yesterday where he admitted eight charges of fraud, all connected with policies held with Friends Provident Life and Pensions Ltd, between 2005 and 2009.
With the proceeds, Mr Wood splashed out on a luxury lifestyle, including buying a holiday home in the French Alps.
The case was adjourned until July 23, for pre-sentence reports to be prepared.
A compensation application is due to be made on behalf of Friends Provident and there will also be an application by the Crown Prosecution Service for confiscation of Mr Wood's assets.
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