Jailed Selkirk financial advisor made to repay £55,000

Angela Lauder had been pursued by legal chiefs for £158,666 she stole from her clients in order to try and save her business.

But following negotiations a joint minute was agreed which means the 44-year-old from Selkirk in the Borders will pay back the reduced sum of £55,000 within the next six months.

Lauder was in the dock at Selkirk Sheriff Court yesterday (Tuesday) following her release from a 16 month prison sentence to hear the outcome of the case.

Defence lawyer Keith Leishman told the court there was heritable property which required to be sold before payment could be released.

Sheriff Peter Paterson granted the confiscation order and allowed time until April 13, 2015, for the full payment to be made.

Married Lauder was jailed last December after admitting stealing the money over a two year period.

While acting for a husband and wife and on a number of occasions she told Friends Provident the couple had signed documents authorising the withdrawal of money from their investment fund.

Between May 2008 and October 2010, from her office at Dunsdale Road in Selkirk, she defrauded Friends Provident of £158,666.

A previous court hearing was told that in 2007 the couple had £1.7 million from a land sale to invest and were introduced to Lauder.

Over a period of time they invested £700,000 with her assistance and had no cause for concern.

When they retired a lump sum was placed in a high-investment account on Lauder’s advice.

But in early 2013 they became dissatisfied and decided to find a different adviser.

One of the funds to be changed was that with Friends Provident and it was found bonds had been cashed but the couple had not received any payment and police were alerted.

When quizzed by police first offender Lauder said: “I’m no’ going to lie. I took the money from the account.” At the time her lawyer explained her business was struggling and she thought she could repay the money but “it got out of control”.