The Financial Conduct Authority (FCA) has secured a confiscation order of £5,963,376.15, against convicted fraudster Guy Flintham. Here are details;
Mr Flintham is serving a six-year prison sentence having pleaded guilty to fraud by false representation. The fraudulent investment scheme operated by Mr Flintham took £19 million from over 240 investors.
He made several fraudulent claims to investors, including about how the scheme was operated and the profits they were making. He falsified documents to support his claims.
The Court determined that Mr Flintham’s criminal benefit was £23,932,204.84, with the Confiscation Order amount being owed £5,963,376.15, based on the Court’s findings as to his available assets. The confiscated funds will be distributed to the victims of his crimes.
The Court has imposed a default prison sentence of two years on Mr Flintham, meaning that if he does not satisfy the terms of the Confiscation Order within three months, he will serve this further term of imprisonment in addition to the six years he is already serving.
Steve Smart, Joint Executive Director of Enforcement & Market Oversight at the FCA, said:
“Mr Flintham deliberately lied and misled people, causing them serious harm. This order sends a signal to anyone who engages in fraud – your ill-gotten gains are not safe even when you’re behind bars.”
The FCA will now contact the identified victims of Mr Flintham’s fraud to provide further information.
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