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flag Former adviser Murray McClune pleads guilty to stealing $1.7M from elderly clients.

flag 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. flag McClune, who worked in the industry since the 1960s, provided falsified statements to hide his actions. flag The Financial Markets Authority uncovered his theft, which could lead to up to seven years in prison. flag His case highlights the importance of trust in financial advising and has harmed the reputations of other registered advisers.

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