A Blackburn man has appeared in court charged with running a £19 million investment fraud, with which he allegedly duped 240 people out of their cash.

Guy Flintham, 46, was charged with fraud and taking deposits without authorisation following an investigation by the Financial Conduct Authority.

It's alleged that between January 2016 and November 2021, Flintham, of Whinney Lane, Blackburn, defrauded around 240 investors by making false representations to persuade them to invest approximately £19m in an investment scheme operated by him.

He 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.

Flintham pleaded not guilty to the latter offence, while did not indicate a plea in relation to the allegation of fraud.

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

The FCA also alleges he falsified documents in order to support some of his claims.   

The case has now been sent to Southwark Crown Court in London, where a plea and trial preparation hearing is due to take place on February 19.