Guy Flintham, 46, was sentenced to six years in prison today after pleading guilty to fraud by false representation at Southwark Crown Court. The prosecution was initiated by the UK Financial Conduct Authority (FCA).
Between January 2016 and November 2021, Flintham, who resided in Blackburn, Lancashire, deceived over 240 investors into investing approximately £19 million in a fraudulent investment scheme. He falsely claimed to be a successful trader and misrepresented how the scheme functioned and the profits generated for investors. Flintham provided investors with falsified trading statements that indicated healthy returns. However, the returns paid to investors came from new investors or were simply their own funds being returned.
Only £1.14 million of the total investment was placed into trading accounts, while approximately £10 million was returned to investors as profits or withdrawals. Flintham spent significant amounts on a lavish lifestyle, including over £1 million on luxury vehicles, personalized number plates, jewelry, and designer goods.
During sentencing, His Honour Judge Milne noted the heartbreaking impact on victims, stating, “People were devastated by what has happened; people’s lives have been irrevocably damaged.”
The FCA has initiated confiscation proceedings against Flintham, with a hearing scheduled for July 18. They took proactive measures under the Proceeds of Crime Act 2002 to secure available assets early in the investigation for potential confiscation.
A separate count of conducting regulated activities without authorization was ordered to lie on file. Fraud by false representation, under the Fraud Act 2006, can result in a fine and/or up to 10 years’ imprisonment.
