The Financial Conduct Authority has launched criminal proceedings against Guy Flintham for committing fraud by false representation.
Between January 2016 and November 2021, the regulator alleges Lancashire-based Flintham defrauded around 240 investors by persuading them to invest approximately £19mn in an investment scheme operated by the 46-year-old.
According to the FCA, 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. The defendant also falsified documents in order to back up some of his claims.
By accepting funds from investors, Flintham was accepting deposits without being authorised to do so. Therefore, the FCA also alleges Flintham committed the offence of carrying out regulated activity without authorisation or exemption.
Flintham appeared at Westminster Magistrates’ Court on January 22, 2024 where he pleaded ‘not guilty’ in regard to the offence of carrying out regulated activity without authorisation.
But he did not indicate a plea in respect of the fraud offence. The case was sent to Southwark Crown Court where a plea and trial preparation hearing will take place on February 19, 2024.
alina.khan@ft.com
