West Yorkshire man who defrauded victims out of £700k jailed for over ten years

A man who defrauded his victims out of over £700k has been jailed for over ten years.

Wednesday, 5th June 2019, 2:34 pm
Peter Adrian Dilenardo, 50

Peter Adrian Dilenardo, 50, continued to give investment advice to clients despite being suspended by the Financial Conduct Authority in 2014.

Following this suspension Dilenardo - of Ron Lawton Crescent, Burley in Wharfedale, Ilkley - continued to advise clients to remove funds from regulated products and invest them into a company owned by him.

He was the sole signatory on the company bank account and in total his clients paid £426,000 into the company.

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On January 16th, 2019 he was arrested for fraud by false representation and perverting the course of justice after he sold his client portfolio whilst subject to a restraint order.

The fraudster generated proceeds from this transaction totalling over £100k which was paid into UK and USA accounts.

These accounts had not been disclosed to the court.

Dilenardo was found guilty at Leeds Crown Court of eight offences including fraud by abuse of position of trust and fraud by false representation following a 9 week trial.

He was sentenced by Judge Neil Clark to 10 years and three months imprisonment.

The total amount of money he conned out of his victims was revealed in court to be £747,000.

Ramona Senior, Head West Yorkshire Police’s Economic Crime Unit, said “Dilenardo has been sentenced to a total of 10 years 3 months after a long trial and challenging investigation made more difficult at every turn by the defendant.

“He showed a complete disregard for his victims and the financial hardship and stress caused in defrauding them of over £747k.

“If you’re considering any type of investment, always remember: if it seems too good to be true, then it probably is.

“Check the credentials of the company or individual you are dealing with and don’t agree to deals straight away. Take time to consider an offer and seek independent advice.

“Be particularly cautious when investing your money in land, carbon credits, wine or precious jewels/metals. Make sure any sites you invest through are genuine.

“Visit the Financial Conduct Authority’s ScamSmart site for advice on making safe investments.”