Peter Grant Holbrook, 75, of Oxenhope, appeared at Bradford Crown Court on Thursday and pleaded guilty to seven of the eight counts of fraud against him in a case brought by West Yorkshire Trading Standards.

The court was told that while acting as financial advisor, trustee and/or custodian of funds, he misappropriated money belonging to nine different victims between 2011 and 2021.

Judge Colin Burn estimated the total funds stolen to be close to £1million. The only offence Holbrook denied was taking £9,147 from Susan Casson.

He admitted taking £150,000 from Christopher Hatton; taking £20,000 from Margery Calvert; taking £231,625 from Barbara Middleton; taking £58,773 from Pamela Chambers; taking £115,829 from Paul Tonks, Mandy Child and Suzanne Cropper; taking £39,307 from Kathleen Bottomley and taking £384,303 from Joan Dobson.

The court heard from Holbrook’s defence counsel that the pensioner was of previous ‘exemplary’ character and had a gambling addiction. He and his wife both have health problems.

The victims were described as ‘vulnerable’ but his barrister said ‘significant personal mitigation’ would be offered at Holbrook’s sentencing in September. The Crown accepted the pleas, meaning he will not face trial for the allegation regarding Susan Casson.

Warning Holbrook that a prison sentence was inevitable, Judge Burn said: “This is serious fraud regardless of your personal circumstances. A custodial sentence is overwhelmingly likely, and one of some length will follow. You should put your affairs in order.”

Holbrook was granted bail until sentencing.

Yorkshire financial advisor, 75, told to expect prison after admitting to defrauding clients out of nearly £1million