The Financial Conduct Authority has banned an ex-financial adviser Shruti Patel who stole £169,000 and operated in the sector under six aliases.

Whilst known as Cindy Brad she was an appointed representative of an authorised independent financial adviser firm between August 2017 and February 2019.

She was also an appointed representative at an authorised mortgage advice firm between May 2009 and August 2009.

In 2009 she was sentenced to 18 months imprisonment and disqualified as a company director for 10 years for offences committed between December 2004 and April 2006.

During that period she ran a business in Leicester called Mortgage Deals for You and obtained loans and mortgages fraudulently by using the names and data of two of her customers.

The total amount she stole from various banks and other institutions was £169,000.

In a final notice published by the regulator, the FCA said Ms Patel is “not a fit and proper person to perform any function in relation to any regulated activity carried on by an authorised person, exempt person or exempt professional firm. Her conviction demonstrates that she is not fit and proper because she lacks the necessary honesty and integrity required to work in the regulated financial services sector.”

Ms Patel changed her name on at least five occasions with aliases including Cindy Brad, Swati Patel, Swatiben M Patel, Churuti Patel and Churuti Brad.