British financial advisor jailed for fraud

A British financial advisor began a 21-month jail sentence in Hong Kong on Friday after she lied to her client and invested $272,000 of his money in a high-risk technology firm that collapsed.

A British financial advisor began a 21-month jail sentence in Hong Kong on Friday after she lied to her client and invested $272,000 of his money in a high-risk technology firm that collapsed.

HT Image

Pauline Cousins, 66, told Lindsay Miller, a university professor, that the money had been invested in a different fund and showed him portfolios of other clients and false documents to hide the truth.

However, she had invested the money in British bio-technology company Microsulis Ltd, which went into liquidation in 2007, rendering her client's investment worthless.

She appeared in court on Thursday for sentencing after being convicted of four counts of furnishing false information.