6 million fraud by convincing investment properties mexico fraud 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 similar 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. A project has been approved that will pay people in the county to put up basic homes or units in their backyard that homeless people can then rent at a low cost, the Los Angeles Times reported. 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.
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