At a hearing at the Southwark Crown Court, 46-year-old Guy Flintham was sentenced to six years in prison for fraud.

On February 19, 2024, Mr. Flintham admitted to fraud by false representation in a lawsuit brought by the UK Financial Conduct Authority (FCA).

From January 2016 to November 2021, Flintham, who resides in Blackburn, Lancashire, deceived over 240 investors into investing in a scheme he operated, amassing around £19 million. These false representations included claims that he was a successful trader, which he was not.

He misrepresented how the scheme operated and the profits earned for investors. He sent them forged trading statements showing healthy returns. Any returns paid to them were from other investors’ funds or were returns of their own investments.

Mr. Flintham only placed £1.14 million into trading accounts, while another £10 million was returned to investors as “profits” or capital withdrawals. Mr. Flintham used substantial funds for a lavish lifestyle, spending over £1 million on vehicles, personalized license plates, jewelry, and luxury goods.

The FCA has initiated confiscation proceedings against Mr. Flintham, with a hearing scheduled for July 18.

The FCA took proactive measures early in the investigation under the powers of the Proceeds of Crime Act 2002 to ensure the availability of assets for confiscation. Another charge, for conducting regulated activities without authorization or exemption under the Financial Services and Markets Act 2000, was ordered to be archived.

Fraud by false representation violates Section 1 of the Fraud Act 2006. This offense is punishable by a fine and/or up to 10 years in prison.