John Burford has been sentenced to two years in prison in a £1 million investment fraud case, following a prosecution brought by the FCA.
The FCA says Burford, who lives in Mansfield, defrauded over 100 investors out of £1 million between 2016 and 2021 through his firm, Financial Trading Strategies, 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.
Burford attracted a range of investors through self-published articles, blogs, and a book which he used to promote his trading credentials and broaden his reach. Investors 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 now pursuing confiscation proceedings to deprive Burford of the proceeds of his crimes and compensate victims.
Steve Smart, joint executive director of enforcement and market oversight at the FCA, said: “John Burford deliberately misled investors, stealing their money to fund his own lifestyle. We will pursue those who abuse investors’ trust and ensure they do not profit from their criminality.
“We are asking anyone who believes they have been affected by this investment scam to contact us.”
In sentencing, 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.”
