Financial adviser guilty of fraud

A FORMER financial adviser has been found guilty of a raft of charges relating to misleading investors into buying into a fund that was later exposed as a Ponzi scheme.

Chris Byrne
Chris Byrne

Christopher Paul Byrne is the former managing director of the now-defunct Lumiere Wealth.

Over a four-week Jurat trial in the Royal Court he told the court he had advised clients to buy into Providence funds because he believed so strongly in it.

But investors who collectively lost over £3 million said he told them the fund was low-risk and failed to disclose that it was the majority shareholder in Lumiere.

The court also heard that his pay deal with Providence had him on track to earn £1.5 million in 2016, the year both Lumiere and Providence collapsed. He was found guilty of over a dozen charges of fraudulently inducing clients to invest.

Byrne was remanded to custody.

Top Stories

More From The Jersey Evening Post

UK & International News