A former Plymouth financial adviser has been jailed for more than eight years after pleading guilty to federal fraud and tax charges stemming from allegations that he stole $4.5 million from clients.



Stephen Clifford has also been ordered to repay $4.5 million to clients whose money he used to pay personal expenses, including mortgage, alimony, credit card bills and his daughter’s college tuition.



The 58-year-old Clifford allegedly used some of the money to fund a personal trading account which he used to speculate in oil futures.



Prosecutors said Clifford caused 24 investors to lose $4.5 million. He also failed to report $2.1 million in investor funds that he had converted to personal use on his tax returns for 2004 through 2006.

Clifford is in jail for a state rape conviction.

Defense attorney Jack Atwood said he will appeal. (AP)