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Former adviser Murray McClune pleads guilty to stealing $1.7M from elderly clients.
Former financial adviser Murray McClune has pleaded guilty to stealing about $1.7 million from elderly clients, using their money for personal purposes instead of investing it as promised.
McClune, who worked in the industry since the 1960s, provided falsified statements to hide his actions.
The Financial Markets Authority uncovered his theft, which could lead to up to seven years in prison.
His case highlights the importance of trust in financial advising and has harmed the reputations of other registered advisers.
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El ex asesor Murray McClune se declara culpable de robar $1.7 millones a clientes mayores.