A WARRANT has been issued for the arrest of a financial advisor suspected of swindling pensioners out of more than £1m.

Magistrates at Consett Magistrates’ Court today (Tuesday, July 1) signed the warrant so Kole Lulguraj, who has fled the country, can be brought to court if he is tracked down and arrested.

The 48-year-old, who is from Montenegro, but used to live in Darlington, is believed to have conned elderly people to fund a luxury lifestyle.

Blair Martin, prosecuting, said: “The accused has fled the country. It is a complex fraud and money laundering matter and the victims were vulnerable.”

Detectives have said he could be anywhere in the world, and are hoping he will be brought to justice after skipping bail in 2012.

The crimes came to light after relatives of one of his alleged victims, who has since died, queried her bank account when working out the funding of care home bills.

Police believe they have enough evidence to charge Mr Lulguraj with theft from seven victims in the Darlington and Barnard Castle areas.

The amounts stolen range from £18,000 to almost £283,000 between 1999 and 2011. He is also to be charged with the money laundering to the value of almost £900,000.