The Financial Services Authority has banned John White, a former employee at London investment bank and stockbroker Seymour Pierce, from working in financial services.

Between 2001 and 2006, White stole a total of £152,372 ($218,746) from his then employer and a number of its private clients in 37 separate transactions, and hid £145,000 in a dormant account that had been paid to Seymour Pierce in error. He also stole trading profits, dealing commission and credit interest belonging to his employer.

Seymour Pierce has returned money and assets to clients who were victims of White’s fraudulent activities.