AN independent financial adviser, who conned a vulnerable widow out of more than £100,000, has been ordered to pay just £5 back.

Anthony Gough, 57, was having money troubles when he approached Elizabeth Ibaldi shortly after she had lost her husband, saying he had just taken over from another adviser.

But Gough, who ran a company called Mortgage Wizard, betrayed her trust by persuading her to take £105,000 from one company and switch the cash to another called F&C on the pretext it would give her a better return, a court heard.

He warned her she would not receive a return for five years and sent her a brochure about the investment he had set up on his computer.

But his victim became increasingly suspicious about the investment when she did not receive any statements and tried to contact Gough, without success. So she contacted F&C who found no record of the investment.

Gough, of Velvet Lawn Road, New Milton, admitted fraud, with recorder Peter Fraser telling him: “She was vulnerable and you were in a position of trust. This was a confidence trick carried out with planning.”

Gough, who was jailed for 32 months, returned to Southampton Crown Court to face a confiscation hearing, during which Recorder Stephen Climie heard he had virtually no realisable assets.

Prosecutor Ximena Jones explained that a thorough investigation had been launched into his finances but it was accepted he had no interest in a property he owned with his wife.

She confirmed Gough had benefited by £105,000 but the amount available for confiscation was just £5.

The judge made an order in that sum with Gough – who was not in court – having to serve an extra seven days in lieu of payment.

At the previous hearing, it was revealed Mrs Ibaldi had been repaid in full by the company, who will receive the £5.