Financial adviser jailed after stole £1.9m to buy crypto

Ex-adviser jailed for 11 years after pleading guilty to 34 counts of fraud, stealing £1.9m from friends, investors, and a motorcycle charity where he was chair

Timothy Barnes, 68, from Droitwich in Worcestershire, appeared at Worcester Crown Court last week after pleading guilty to 34 counts of fraud by false representation, three counts of making or suppling an article for use in fraud, and two counts of fraud by abuse of position.

Barnes was sentenced to 11 years in prison after stealing £1.9m over 18 months.

In November 2022, Barness offending began when he approached people he knew, including his friends, to ask for a ‘short-term loan’.

Barnes told them the money was going to pay for either an inheritance tax payment, or a divorce payment, West Mercia police said.

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