Former Morrogh partner defrauded clients of €5.7m

FORMER W&R Morrogh Stockbrokers partner Stephen Pearson pleaded guilty yesterday to charges of defrauding the company's clients of €5.7 million.

Mr Pearson, 44, who lives in Glanmire, Co Cork, pleaded guilty to 46 charges at the Dublin Circuit Criminal Court of fraudulently converting money for his own benefit, forgery and false pretences. He pleaded guilty to one charge of fraudulent conversion at an earlier court appearance.

Under the Larceny and Forgery Acts, Pearson faces up to 14 years in prison. Sentencing was adjourned until October 12.