The UK Financial Conduct Authority (FCA) has launched criminal proceedings against Kerry Nelson and Jacqueline Stephens for alleged fraud, forgery, and money laundering.
Kerry Nelson was director of both Nexus Independent Financial Advisers Limited (Nexus IFA) and Nexus Investment Managers Limited (Nexus IM). Jacqueline Stephens was business operations manager at the same firms.
Ms Nelson and Ms Stephens have been charged with allegedly defrauding four clients between January 2019 and January 2023, who lost £2 million. They are also charged with using false documents in the process of committing the alleged fraud.
Ms Nelson has also been charged with a further money laundering offence, after money was allegedly withdrawn from the firms. The FCA claims that the funds transferred from the accounts by Ms Nelson were used to fund her extravagant lifestyle.
Ms Nelson and Ms Stephens appeared before Portsmouth Magistrates’…
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