FSA dishes out £150,000 fine as it bans five for insurance fraud

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Andrew Jeffery, director of Jeffery Flanders (Consulting) has been banned and fined £150,000.

The FSA said Mr Jeffery recklessly failed to put in place insurance policies appropriately or, in some cases, at all, despite collecting payment from customers. In so doing, he exposed customers to risks such as not having adequate household or motor insurance. This was particularly serious as many of the customers were elderly or vulnerable. He also knowingly forged documentation and correspondence

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