John Burford has admitted guilty of investment fraud case in £ 1m, after prosecution by the UK financial behavior authority (FCA).
As the sole director of Limited Financial Trading Strategies Limited, Mr Burford promoted a subscription service paid through its website to offer daily concerts with investment tips and the opportunity to invest in three those called “tramline” funds.
Mr Burford took money from more than 100 investors and informed and managed FCA without authorization. He made more than 1 million pounds in the process, which he used to buy a property and finance his residence costs.
Mr Burford has repeatedly lied to investors about how much the funds are worth and hid the full extent of the damage that had occurred during the negotiation.
Mr Burford will later be sentenced to Southwark Crown Court. The FCA will also seek the seizure orders to deprive him of his profits and return money to investors.