Today at Southwark Crown Court, Guy Flintham pleaded guilty to fraud following a prosecution by the UK’s Financial Conduct Authority (FCA).
Between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded around 240 investors by making false statements to get them to invest around £19 million in an investment scheme he managed.
Mr Flintham made a number of fraudulent claims to investors, including about how the scheme worked and the profits they could and did make through the scheme. He forged documents to support some of his claims.
Sentencing will take place on April 26, 2024.
Mr Flintham pleaded not guilty to further charges of carrying on a regulated activity without a license or exemption contrary to the Financial Services and Markets Act 2000.
Fraud by false representation is contrary to section 1 of the Fraud Act 2006. It is punishable by a fine and/or imprisonment for up to 10 years.