23 Jan 2024
A fine and/or up to 10 years’ imprisonment
The Financial Conduct Authority (FCA) successfully launched criminal proceedings against Guy Flintham for committing fraud by false representation and for carrying out regulated activity without authorisation.
Between January 2016 and November 2021, Mr Flintham, based in Blackburn, Lancashire, defrauded around 240 investors by making false representations to persuade them to invest approximately £19m in an investment scheme operated by him.
Mr Flintham made a number of fraudulent claims to investors, including about how the scheme was operated, and the profits they could and were making via the scheme. He falsified documents in order to support some of his claims.
Fraud by false representation is contrary to section 1 of the Fraud Act 2006. It is punishable by a fine and/or up to 10 years’ imprisonment.