‘Pensioners lost millions to greedy financial advisors’

A greedy financial advisor lost pensioners over £11m in life savings by squandering their money on Spanish land purchases and speculative investments, a court heard. Raymond Simpson, 78, and his business partner Steve Long, 59, defrauded elderly homeowners who wanted to protect their properties and assets from care home fees and inheritance tax, Southwark crown court heard. Charlene Sumnall, prosecuting, said: ‘This is fundamentally a case about greed. Mr Long and Mr Simpson sought to enrich themselves using money that…