Son ‘tricked his mum out of £137,000’

A RETIRED teacher told a jury her financial advisor son conned her out of more than £137,000 from the sale of her home.

Geraldine Haydock, 73, said she “trusted” Simon, 49, to invest the sum for her. But instead he blew it on gambling and ignored her requests to repay it.

Newport crown court heard Haydock, managing director of Cascade Wealth Management, spent tens of thousands in a few days with financial spread betting firm IG Index.

His uncle Dr Joseph Grey said Haydock later told him: “It’s my fault, I made a mistake and I shouldn’t have done it’.”

Haydock, of Trowbridge, Cardiff, denies fraud by abuse of position and claims the cash was a gift.

The trial continues.