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Financial conman is to pay back £115,000

PAYBACK: Simon Kitchen

PAYBACK: Simon Kitchen

A disgraced financial advisor who gained the trust of two pensioners, then swindled them out of their savings, has been ordered to pay his ill gotten gains back.

Simon Kitchen, 44, of Black Bull Lane, Fulwood, Preston, was found to have benefitted from his frauds to the tune of £155,503.08 in a hearing at Preston Crown Court.

He was ordered to pay back £115,459.04 of his realisable assets within six months.

One of his vulnerable victims, an elderly man from Preston, did not live to see justice done, passing away in a nursing home before the Proceeds of Crime Act proceedings took place.

Kitchen, who is married, was jailed for 32 months in October after admitting defrauding two clients.

He admitted a £61,000 fraud against a Lancashire woman while he was employed as a financial planner based in the Lytham St Annes branch of the Skipton Building Society. It took place over a two year period between March 25, 2011, and January 28, 2013, when it was finally uncovered by suspicious staff.

He was accepting cheques from the elderly victim, who believed he was investing the cash into profitable accounts, but he was depositing them into his own.

Later he admitted a further four frauds related to another victim, an elderly Preston widower, whom he swindled a further £61,000 from.

After the man’s partner died, the victim had stayed in their home, caring for her disabled son. The pensioner died before the POCA case. Kitchen had visited him in his home and subsequently, in the nursing home he moved into.

A court heard he had “considered the defendant a friend.”

The court heard the reason for his crimes was an attempt to keep a “middle executive” lifestyle for his family when his bonuses were cut.

A police spokesman said: “I am happy we have been able to get back the money that Simon Kitchen illegally amassed and this will be returned as compensation.

“I hope this sends out a warning, if we find you with cash that you cannot account for, you will be targeted and we will seize back the money you have made no matter how long it takes.”

 

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