John Burford was sentenced to two years in prison in a £ 1 million investment fraud case, following a prosecution by the UK financial behavior authority (FCA).
Mr Burford, who lives in Mansfield, deceived more than 100 investors from £ 1 million between 2016 and 2021 through his company, Limited Financial Strategies, where he was the only manager.
He offered commercial alerts and investment opportunities to three self -evident funds, despite the lack of FCA authorization. FCA found that it has repeatedly misled investors about the performance of the funds, hidden losses and used their money to buy real estate and support its lifestyle.
Mr Burford attracted a series of investors through self-published articles, blogs and a book to promote his negotiations and expanding his scope. Mr Burford’s investors described the placement of significant confidence in him because of his supposed experience and many described the significant economic and emotional implications of his life in their lives.
The FCA is following seizure procedures to deprive Mr Burford from his crimes and to offset the victims.
During the conviction, Coles honor judge described the case as “a continuous fraud that caused great misery to investors”, noting that the defendant “used the harsh money of other people as a cash fund to buy a home and for living expenses”. He added that “old age is never an excuse to avoid punishment for serious insult.”
For Mr Burford, the judge added: “You have released yourself as a specialist trader and cheated on people to trust you.”
This case follows the recent FCA enforcement action on investor fraud, including a conviction against Daniel Pugh, who created a Ponzi plan that won more than £ 1 million.