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Ex-Lumiere Wealth CEO, Chris Byrne, will be sentenced in two months’ time after being found guilty of losing £2.7million of his clients’ money in a fraudulent fund, it was decided this morning.
Christopher Paul Byrne (50) will be held in custody until he is sentenced in November for misleading his elderly, vulnerable and financially inexperienced clients in order to get them to invest in a high-risk and ultimately fraudulent fund.
Byrne appeared in the Royal Court this morning after being found guilty of 16 counts of financial misconduct including misleading his clients and providing false information to the Jersey Financial Services Commission (JFSC).
Pictured: Christopher Byrne is the former CEO of Lumiere Wealth Ltd. which he set up after a career as an independent financial advisor.
This verdict was reached after a lengthy trial lasting over a month, throughout which Byrne strenuously denied most of the allegations made about him. During the trial, the court heard testimony from witnesses including an elderly French couple, a pensioner and a retired teacher.
Byrne will be sentenced in the Royal Court on 8 November before all of the Jurats, who only assemble as the ‘Superior Number’ for the most serious of cases.
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