Tenet to pay compensation for jailed adviser's actions

The clients in question - designated 'Mr and Mrs M' by the Financial Ombudsman Service (FOS) - believed the losses they suffered were preventable and the result of "inadequate supervision" by Tenet of its appointed representative Dhanda Financial. Alok Dhanda conned 41 of his friends and clients into handing over large sums of cash, which he said were for overseas investments, but were in fact used to pay off his own debts. He was convicted of 37 counts of fraud, and was jailed for five years in December 2014 before being released in February 2017. In January 2018, the FCA also banned...