Complaint Review: Richard Nash

Richard Nash, of Miller Insurance Services LLP, cheated investment clients out of hundreds of thousands of pounds and then hid from the angry clients. He also aided and abetted the fraudulent acquisition of a lease-purchase vehicle and then drove that vehicle around.

Ricky Nash, as he then liked to be known, worked in investment sales at a small company located on St Giles Street, Norwich, United Kingdom, in the late eighties and early nineties.

His goal was to sell investment products to clients based on the heftiest commission he would receive for doing so. The needs and interests of clients did not come into the equation. As long as Nash made money, that was all that mattered.

Then, when those clients were losing money at the speed of thought, Richard (Ricky) Nash was nowhere to be found. Calls to his office were received by Dawn the secretary, who would tell everyone that Ricky was “in a meeting”. That was a permanent meeting, it seems, as Dawn gave the same reason for Richard Nash being unavailable every day, no matter what time of day clients would call.

Richard Nash was, in fact, hiding out at the house of the company's boss, Jeremy, when he was being sought all over town. When clients' representatives called at Jeremy's house in Norwich to ask about the whereabouts of Nash, Jeremy was unable to help them, even though Ricky was right there skulking in his kitchen.

This was all hilarious, Ricky thought, until he lost his licence to sell financial products to members of the public.

Then he went and hid out with Dawn at a rental house in Attleborough, Norfolk, where he calculated his future was in brokering high-interest loans to corporate clients. He went into business with another struggling financial-industry buffoon (who funded the start-up) at an office on Silver Road, Norwich.

That business lasted all of a few months, during which time Richard Nash helped set up the aforementioned fraudulent lease-purchase of a Mercedes car. Ricky had advised a co-conspirator that they could sell the car and flee with the proceeds. Ricky drove the car around for a while till eventually that scheme inevitably also failed, and he was left with no choice other than to anonymously reveal the location of the vehicle to the repossession folks. Richard Nash was the only one who gained anything from that scheme too.

And now here is Richard Nash in Corporate Risks at Miller Insurance. It just goes to show that there really is no true justice in the world. You can rip off clients, hide from justice, go into business with no money of your own, commit fraud, fail at everything you try, and yet still come out of it laughing and in a comfortable spot at Miller Insurance.

Well this report is one risk he didn't foresee. Let's all chuckle along with good ol' Ricky, the Wolf of St Giles Street, about his caper, shall we?