James Hay pays Tory spending guru £19K after bungle

Gershon, pictured, was a member of the Conservative Public Sector Productivity Advisory Board, which wrote the plan to cut £12bn from public services. He is also a non-executive director of the Treasury. In March 2007, Gershon instructed his financial adviser, Regency Investment Services, to invest £776,400 in the cash account of his James Hay SIPP into various funds held on the Fidelity Fundsnetwork platform. James Hay transferred £776,400 from the SIPP's cash account into a pooled account, before sending a cheque for the same amount to Fidelity. However, Fidelity claimed it has n...