Beware of unscrupulous financial advisers

City University professor Lindsay Miller was left with a HK$1.75 million loss after his adviser lied about where she had invested his money.

Pauline Cousins, the former managing director of Crown Asset Management, claimed she had invested the lump sum in an investment-linked assurance scheme, even producing statements belonging to other clients to show how the investment was doing.

But in reality, without Miller knowing, she had used the money to buy shares in a hi-tech company that was subsequently put into administration.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1136028/beware-unscrupulous-financial-advisers