The Financial Conduct Authority (FCA) has launched criminal proceedings against Guy Flintham over an alleged £19m fraudulent investment scheme.
The watchdog has argued Blackburn-based Flintham committed fraud by false representation and carried out regulated activity without authorisation.
It alleged that between January 2016 and November 2021 he defrauded around 240 investors by persuading them to put money into an investment scheme he operated.
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According to the FCA, Flintham made a number of fraudulent claims around how the scheme operated and the profits it generated, with falsified documents used to support his statements.
Flintham was not authorised to engage in the regulated activity of accepting deposits, in any case, the FCA said.
He appeared at Westminster Magistrates’ Court on 22 January 2024 and entered a plea of not guilty of the offence of carrying on regulated activity without being authorised or exempt. He did not indicate a plea in respect of the fraud charge.
The case was sent to Southwark Crown Court for a plea and trial preparation hearing scheduled for 19 February 2024.
