VICTIMS of disgraced financial adviser Kevan Berry have launched a bid to claw back some of the £500,000 he stole from them.

Berry used his role at Briercliffe-based Bowland Financial Management to obtain the life-savings of people from across East Lancashire on the pretence that he would make investments for them.

But he paid the cash into his own private bank accounts and spent it over six years.

Berry, 41, formerly of Barrowford, was sentenced to four years in prison at Preston Crown Court earlier this week after pleading guilty to 11 theft-related charges.

His still anguished and upset victims, from Burnley, Ribble Valley and Blackburn, gathered to watch Berry receive his punishment.

Today it was revealed that, because Berry was registered with the Financial Services Authority, the clients may be entitled to a maximum of £48,000 each in compensation.

This would be from the Financial Services Compensation Scheme, a non-profit organisation funded by business to protect consumers.

Claims take six months to complete and millions in compensation are paid out each year.

Investors were told their cash was being ploughed into cast-iron ventures guaranteed to make them a healthy profit.

"He used to tell us that we would be better off leaving the money alone - that things would work out better in the long run, or that he'd moved the money and it couldn't be accessed," one said.

In reality Berry was using their savings to fund a lifestyle in social circles he could not keep up with.

One woman, who lost thousands of pounds, said: "We all thought that because he was doing so well, our money must be safe.

But now we know he was living the high life on our money."

And a Burnley man trusted Kevan Berry to such an extent that he invited him to his wife's funeral in 1996.

They also enjoyed meals together and he readily admits he thought of Berry as a good friend and someone who could be trusted. Their friendship became so solid he invited Berry to act as executor for his will.

His suspicions were only aroused when a cheque from Berry failed to clear in his account. A telephone call was made to police and the intricate web of lies spun by Berry began to unfold.

One woman asked Berry to a funeral unaware that he was already syphoning her investment into personal bank accounts.

"When I look back, I wonder if he was touting for business at the funeral,"she said. Berry has apologised to his victims but that is a small crumb of comfort to people who he robbed of everything.

The FSA has issued the following advice to people dealing with financial advisers:

Always check the FSA website that the advisers are registered.

Ask for references, their employment history and don't be afraid to ask questions.

Shop around and get several quotes from different people.

Request and keep all documentation.