Financial advisors will pay back fraction of the £20m they swindled in pension scam

Two financial advisors who convinced hundreds of pensions holders to transfer their plans into a sham company in a £20m investment fraud will pay back just £3.1m, a court heard. Rikki Nicholls, 58, and Mark Kelly, 53, persuaded 285 victims to move their plans to their company PCD Wealth and Pensions between September 2006 and April 2013. The money was funnelled into risky investments without the consent of the pension holders who were charged hidden fees while the fraudsters paid…