Sentencing hearings began yesterday, but were adjourned as complex asset confiscation procedures are worked through ahead of the final sentence.

Court time has also been allocated for tomorrow.

Alan and Russell Taylor, from Norwich, abused the trust of mainly local clients for six years by targeting retirees, or those approaching retirement, to persuade them to invest in a high-risk scheme called the ‘Vantage Trader Fund’.

While running Taylor and Taylor Associates, the men would tell their victims the scheme was a safer investment than the savings they already had, but in reality it was high risk and left clients with a future of financial uncertainty.

In total, more than £17m was invested in the brothers’ ‘Vantage Fund’ between 2008 and 2015.

The brothers spent the proceeds on a lavish lifestyle, including hiring a private jet for more than £150,000, a boat worth more than £50,000 and an exclusive timeshare costing £260,000.

They also splashed out on several expensive Patek Philippe and Rolex watches worth tens of thousands of pounds each.

The FSCS has already paid out millions of pounds in compensation to clients.

The brothers were convicted on 6 March, after pleading guilty to a number of fraud offences, including conspiracy to defraud and fraud by abuse of position.