FIN.

FCA secures £6m confiscation order against fraudster

The FCA has secured a confiscation order of £5,963,376.15 against Guy Flintham, who is currently serving a 6-year prison sentence after pleading guilty to fraud by false representation in relation to a fraudulent investment scheme that took £19m from over 240 investors.

Mr Flintham had made a number of fraudulent claims to investors, including about how the scheme was operated and the profits it was making, and falsified documents to support his claims.

Although the court found his criminal benefit to be around £24m, the confiscation order amount owed was around £6m due to the court’s findings on Mr Flintham’s available assets, which will now be distributed to the victims.

Laura Wiles