WealthTek boss John Dance charged with £64m fraud and money laundering

‘One of the most serious and largest frauds’

Jenna Brown
clock • 2 min read

WealthTek boss John Dance has been charged with nine criminal offences, including several counts of fraud totalling £64m as well as money laundering, the Financial Conduct Authority (FCA) has confirmed.

Dance, the principal partner at the wealth management firm, has been accused of fraudulently abusing his position for personal gain. The FCA said between 2014 and 2023, Dance transferred more than £64m from client accounts to his control. The funds were then used to fund a "lavish lifestyle". He is also accused of using the funds to back business ventures such as racehorses and a nightclub. Eight MPs call on Chancellor to investigate FCA's WealthTek crackdown WealthTek was formerly known as Vertus Asset Management (Vertus). The FCA explained that prior to WealthTek obtaining dir...

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