A BUSINESS advisor who has admitted pocketing £150,000 from his clients was told yesterday to prepare himself for a jail sentence.
David John Hodgson, 43, who had trials with Middlesbrough Football club as a youngster, pleaded guilty in Newcastle Crown Court to the theft of about £5,500.
Hodgson was committed to the Crown Court by Gateshead magistrates last Friday for sentencing after admitting 12 counts of deception. The prosecution asked that a further ten instances be taken into account. Earlier this year, Hodgson admitted a further charge of deception.
Adjourning the case for the preparation of psychiatric reports, Judge Esmond Faulks said the "likelihood is you'll be sent to custody".
The offences were committed between May 2004 and December last year, mostly in the Spennymoor area of County Durham, near where he used to live.
Yesterday's appearance came days after the announcement of a bankruptcy order taken out against Hodgson. His house at 5-6 Lanehill Farm, Ireshopeburn, County Durham, is to be repossessed at the weekend, the court was told yesterday.
Hodgson carried on business as Pro-Vision Financial Management from Northbondgate, Bishop Auckland.
The married father-of-two was first arrested in October and charged with taking property by deception.
He was re-arrested following a four-month investigation and questioned about further alleged discrepancies involving his clients' investments.
Last week's hearing was told Hodgson, acting as financial advisor, had received cheques from a number of people to invest money. There were 23 counts in total totalling about £149,000.
Instead of investing the money, Hodgson kept it and gave his clients false certificates printed on a computer. So far, none of the money has been recovered. Hodgson is thought to have spent the money on his mortgage.
The court heard that Hodgson had trials with Middlesbrough FC but failed to make it as a professional footballer and drifted into the amateur game.
He played at Spennymoor United during the 1980s and returned to the club in 2002, as assistant manager to former Newcastle star Alex Mathie.
Moors fans remember Hodgson sponsoring at least one game during his brief spell with the club. He took business clients as corporate guests.
In 2003, Hodgson left the Moors, along with Mathie, to manage West Auckland and stayed on as right hand man to Alan Shoulder, another former Magpies star, when he became manager.
Mr Shoulder said last night: "Its been a shock to hear Hodgy was involved in this, he was one of those people you would never expect anything bad of.
"He only worked with me for a few months but we got on really well. He was knowledgeable about football and gave me good advice because he knew the players at the club better than me when I joined. His business and finances never came up."
During his early playing career, Hodgson drew comparisons with his namesake, Darlington FC manager David Hodgson, who also started his career with Middlesbrough. The pair ended up with widely different fortunes, as one went on to play for Liverpool and the other fought for a place in Spennymoor's team.
The case was adjourned until April 10 for sentencing.
Victim postpones retirement
RAY Pritchard had a healthy financial future until he met genial investment advisor David Hodgson.
Mr Pritchard, 51, from Middlestone Moor, Spennymoor, County Durham, represented rich pickings for crooked Hodgson, who has swindled the industrial engineer out of more than 45,000.
And yesterday, after Hodgson pleaded guilty to a number of charges involving obtaining money by deception, Mr Pritchard described the misery inflicted on him and his family.
He first met Hodgson five years earlier. The men shared a common interest in Spennymoor Football Club.
Mr Pritchard said: "I must say, I found him a likeable character who, for a time, I considered not only to be my financial advisor, but also my friend."
It didn't take long for Hodgson to learn of Mr Pritchard's pension fund and the 22,000 redundancy money he had wisely invested.
Hodgson persuaded him to place his money in high return, property-related investments.
"He advised me to take as much out of my pension as I could and I arranged to get back a lump sum of more than 23,000," said Mr Pritchard, who has been forced to rethink his plans to retire at 60.
In addition, he handed over the 22,000 he received after being made redundant by Electrolux.
He said: "I have worked hard all my life and it had taken since I was 16 years old to accrue that nest egg, which would have given me a secure financial future."
Mr Pritchard gave Hodgson three cheques - the third in June last year. In return, he was given what appeared to be authentic investment certificates.
But two weeks before Christmas, Mr Pritchard was contacted by police and learnt that he had been duped out of his life savings.
"It is impossible to put into words how I feel about a man who, while operating as my financial advisor, also masqueraded as my friend.
With Hodgson having declared himself bankrupt, Mr Pritchard said: "Sadly, it is clear I can kiss goodbye to any chance of getting any of my money back.
"I was always taught that crime didn't pay, but this man seems to be proving otherwise.
"I am shocked, angry and much poorer, but all I can do is to try to get on with my life, even though I don't have enough years of work left to rebuild the money I have lost."
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