Mining

Investing in hotel properties

6 million fraud by convincing clients that he was investing their money in property in India. Newcastle Crown Court heard that Dhanda, of Gosforth, Newcastle admitted 24 charges of fraud, having previously admitted investing in hotel properties charges at an earlier hearing.

The father-of-two appeared in court via video-link, where he had been previously remanded in custody. Dhanda, who won the title of independent financial adviser of the year in 2006 and was runner up twice, will be sentenced on December 19. Mr Recorder Nicholas Lumley QC gave no indication what the likely sentence would be at the next hearing and remanded Dhanda in custody in the meantime. To sustain the fraud he gave a small portion of that back to other people. Proscutor James Adkin told the court: ‘There are some 37 victims on two indictments. It is a case which will have public interest in Tyneside. 6m as some of the cash was on a ‘merry go round’ from one victim to another, to keep the scam going.

Several of Dhanda’s victims packed the public gallery during the short hearing. No comments have so far been submitted. Why not be the first to send us your thoughts, or debate this issue live on our message boards. We are no longer accepting comments on this article. The ONLY arm candy to be seen with this season! Sobbing mums, tearful teachers are today’s schools THAT tough?