The Financial Conduct Authority (FCA) has commenced criminal proceedings against Guy Flintham for alleged fraud by false representation and conducting regulated activities without authorisation.
Flintham, who is based in Blackburn, Lancashire, is accused of defrauding approximately 240 investors by making false claims to encourage them to invest around £19m in an investment scheme he operated.
According to the FCA, between January 2016 and November 2021, Flintham engaged in fraudulent practices by making misleading representations about the operation of his scheme and the profits investors could expect. He is also accused of falsifying documents to support his claims.
In the process of accepting funds from investors, Flintham was undertaking the activity of accepting deposits, a regulated activity for which he lacked authorisation.
Consequently, the FCA alleges that Flintham, as an unauthorised individual, committed an offence by engaging in a regulated activity without the necessary authorisation or exemption.
Flintham appeared at Westminster Magistrates’ Court today, (22nd January 2024), where he entered a not guilty plea in relation to the charge of carrying out regulated activity without authorisation. He did not indicate a plea regarding the fraud charge.
The case has been forwarded to Southwark Crown Court for a Plea and Trial Preparation Hearing scheduled for 19th February 2024.
