The FCA said today (31 January) it has secured a confiscation order of £5,963,376.15, against convicted fraudster Guy Flintham.
Flintham is serving a six-year prison sentence having pleaded guilty to fraud by false representation. The fraudulent investment scheme operated by Flintham took £19m from over 240 investors.
He made several fraudulent claims to investors, including about how the scheme was operated and the profits they were making. He falsified documents to support his claims.
The court determined that Flintham’s criminal benefit was £23,932,204.84, with the confiscation order amount being owed a £5,963,376.15, based on the court’s findings as to his available assets. The confiscated funds will be distributed to the victims of his crimes.
The court has imposed a default prison sentence of 2 years on Flintham, meaning that if he does not satisfy the terms of the confiscation order within 3 months, he will serve this further term of imprisonment in addition to the 6 years he is already serving.
Steve Smart, joint executive director of enforcement and market oversight at the FCA, said: ‘Mr Flintham deliberately lied and misled people, causing them serious harm. This order sends a signal to anyone who engages in fraud – your ill-gotten gains are not safe even when you’re behind bars.’
The FCA further said it will now contact the identified victims of Flintham’s fraud to provide more information.
