Blackburn-based Guy Flintham has plead guilty to fraud following a prosecution brought by the Financial Conduct Authority (FCA).
Flintham entered the plea during proceedings at Southwark Crown Court on Monday, 19 February. Sentencing will take place on 26 April.
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He pleaded not guilty to a further count of carrying on regulated activity without authorisation or exemption, contrary to the Financial Services and Markets Act 2000.
The FCA had alleged that between January 2016 and November 2021 Flintham defrauded around 240 investors by making false representations to persuade them to invest a total of approximately £19m in an investment scheme operated by him.
The regulator further alleged Flintham made a number of fraudulent claims including how the scheme was operated and the profits. He also falsified documents in order to support some of his claims, the FCA alleged.
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