Home Financial Planning Man, 46, in courtroom over £19m funding fraud

Man, 46, in courtroom over £19m funding fraud

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Man, 46, in courtroom over £19m funding fraud

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A 46-year-old man has appeared in courtroom in London in the present day charged in reference to a £19m unauthorised funding scheme.

The FCA has launched legal proceedings towards Man Flintham for allegedly committing fraud by false illustration and for finishing up regulated exercise with out authorisation. 

The FCA alleges that between January 2016 and November 2021, Mr Flintham, primarily based in Blackburn, Lancashire, defrauded round 240 buyers. He’s accused of constructing false representations to steer them to take a position roughly £19m in an funding scheme operated by him. 

Mr Flintham is accused of constructing a variety of fraudulent claims to buyers, together with about how the scheme was operated and the earnings buyers might and have been making by way of the scheme. He falsified paperwork to be able to help a few of his claims, the FCA alleges.   

The regulator stated by accepting funds from buyers, Mr Flintham was enterprise the regulated exercise of accepting deposits, which he was not authorised to do. The FCA additional alleges that, as an unauthorised individual, he dedicated the offence of carrying on regulated exercise with out being authorised or exempt. 

Mr Flintham appeared at Westminster Magistrates’ Courtroom in the present day (22 January) the place he pleaded not responsible on the offence of carrying on regulated exercise with out being authorised or exempt. He didn’t enter a plea in respect of the fraud offence.

The case was despatched to Southwark Crown Courtroom for a Plea and Trial Preparation Listening to which can happen on 19 February. 

Fraud by false illustration is punishable by a nice and/or as much as 10 years’ in jail. Carrying on regulated actions with out authorisation is opposite to part 23 of the Monetary Providers and Markets Act 2000 and is punishable by a nice and/or as much as 2 years’ imprisonment. 




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