A Blackburn man has pleaded guilty to fraud after duping hundreds of people to invest around £19 million in an investment scheme.

Guy Flintham, 46, pleaded guilty to fraud by false representation in a plea hearing at Southwark Crown Court in London on Monday, February 19.

The prosecution, brought by the Financial Conduct Authority, found Flintham, of Whinney Lane, Blackburn, defrauded around 240 investors by making false representations to persuade them to invest approximately £19 million in an investment scheme operated by him.

The offending took place between January 2016 and November 2021.

Flintham made a number of fraudulent claims to the investors, including about how the scheme was operated, and the profits they could and were making via the scheme.

He also falsified documents in order to support some of his claims.  

Flintham pleaded not guilty to a further count of carrying on regulated activity without authorisation or exemption, contrary to the Financial Services and Markets Act 2000.

He will be sentenced on Friday, April 26, and could face a fine and up to 10 years in prison.

He had appeared before Westminster Magistrates' Court in London on Monday, January 22, charged with fraud by false representation, and carrying on a regulated activity, namely accepting deposits, without authorisation.