John Burford has been sentenced to two years in prison in a £1 million investment fraud case, following a prosecution brought by the UK Financial Conduct Authority (FCA).
Mr Burford, who lives in Mansfield, defrauded over 100 investors out of £1 million between 2016 and 2021 through his firm, Financial Trading Strategies Limited, where he was the sole director.
He offered trade alerts and investment opportunities in three self-named funds, despite lacking FCA authorisation. The FCA found he repeatedly misled investors about fund performance, concealed losses and used their money to buy property and support his lifestyle.
Mr Burford attracted a range of investors through self-published articles, blogs, and a book to promote his trading credentials and broaden his reach. Investors of Mr Burford described placing considerable trust in him because of his purported expertise and many described the significant financial and emotional impact his offending had on their lives.
The FCA is pursuing confiscation proceedings to deprive Mr Burford of the proceeds of his crimes and compensate victims.
In sentencing, His Honour Judge Coles described the case as a ‘sustained fraud causing much misery to investors,’ noting that the defendant ‘used other people’s hard-earned money as a cash fund to purchase a house and for living expenses.’ He added that ‘old age is never an excuse for avoiding punishment for serious offending.’
To Mr Burford, the judge added: ‘You marketed yourself as a highly skilled trader and tricked people into having confidence in you.’
This case follows recent FCA enforcement action on investor fraud including securing a conviction against Daniel Pugh who set up a Ponzi scheme that netted over £1 million.
