Cardiff IFA handed nine-year bankruptcy order after doomed insurance sales

Owed more than £350,000

clock • 1 min read
Cardiff IFA handed nine-year bankruptcy order after doomed insurance sales

A Cardiff-based IFA has been handed a nine-year bankruptcy order after netting hundreds of thousands of pounds in commission from insurance sales that he knew would be cancelled.

At the point of bankruptcy Marc Jones, 42, of Whitchurch in Cardiff, owed more than £350,000, a statement from The Insolvency Service revealed. Jones worked as a self-employed IFA from January 2012 until October 2018. From 2018 to 2019 he worked on behalf of a financial institution selling various financial products. The government agency said Jones received commission payments totalling "several hundred thousand pounds on the sale of insurance policies that he knew, or ought to have kn...

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