Guy Flintham conned friends and family as part of heartbreaking £19m fraud

A man originally from Preston has been sentenced to six years in jail after defrauding more than 240 investors, including friends and family, to the tune of around £19m.

Guy Flintham, 46, who was originally from Fulwood and attended Fulwood High School but is now based in Blackburn, pleased guilty to false representation following a case brought by the Financial Conduct Authority (FCA).

Flintham lied about how his scheme was operated and the profits that he was making for his investors. He sent them falsified trading statements which showed healthy returns. Any money that was paid out to them as returns was money received from other investors – or their own investment paid back to them.

Only £1.14m was ever placed into trading accounts by Flintham, with a further £10m paid back to investors as ‘profits’ or withdrawals of capital. Flintham spent substantial sums on an extravagant lifestyle, including more than £1m on vehicles, personalised number plates, jewellery and designer goods.

Judge Milne said in his sentencing remarks: “The fraud [in this case] relates to money being taken from friends, from family. It relates to people you know, who you met… you took money from them having looked them in the eye and no doubt shaken their hand.

“I read the victim impact statements: they are heartbreaking… over and over again I read of the devastation left in the wake of [the fraud you perpetrated].

“People were devastated by what has happened; people’s lives have been irrevocably damaged.”

The FCA has commenced confiscation proceedings against Flintham with a hearing listed for 18 July.

Steve Smart, Joint Executive Director of Enforcement & Market Oversight at the FCA, said: “Over a 5-year period, Mr Flintham deliberately lied and misled people to persuade them to invest in what amounted to little more than a Ponzi scheme.

“The sentence imposed today demonstrates the seriousness of Mr Flintham’s offending and is a warning to others who choose to engage in fraud.”

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