FCA Prosecutes for Facebook-Based £1.3 Million Ponzi Scheme Targeting Retail Investors – TradingView

Fraudster responsible for £1.3m Ponzi scheme convicted – International Adviser

A fraudster who created a £1.3m Ponzi scheme has been convicted following a prosecution by the FCA. Daniel Pugh from Devon set up the fraudulent Imperial Investment Fund (IIF) and swindled the money from 238 investors he targeted largely through Facebook adverts, promising returns of 1.4% a day, 7% a week or 350% a year. The FCA will now begin confiscating the proceeds of the crime. Pugh pleaded guilty to carrying out unauthorised regulated acti…

FCA secures convictions against individual for £1.3m Ponzi scheme - Essex Magazine

Daniel Pugh has been found guilty of fraud, following a prosecution by the Financial Conduct Authority (FCA). Mr Pugh, aged 35 and of Devon, set up a Ponzi scheme that netted over £1m. Through his fraudulent Imperial Investment Fund (IIF), Mr Pugh took money from 238 investors he targeted largely through Facebook adverts. They were […]

FCA Secures Conviction in £1.3 Million Ponzi Scheme

Pugh was found guilty at Southwark Crown Court of one count of conspiracy to defraud.  He had earlier pleaded guilty to carrying out unauthorised regulated activity and breaching sections 19 and 21 of the Financial Services and Markets Act 2000. Through his fraudulent Imperial Investment Fund (IIF), Pugh is said to have targeted 238 investors, largely via Facebook adverts, promising returns of 1.4% a day, 7% a week or 350% a year, rates the FCA …

FCA Prosecutes for Facebook-Based £1.3 Million Ponzi Scheme Targeting Retail Investors – TradingView

FCA Prosecutes for Facebook-Based £1.3 Million Ponzi Scheme Targeting Retail Investors  TradingViewhttp://dlvr.it/TMMxdP

FCA Prosecutes for Facebook-Based £1.3 Million Ponzi Scheme Targeting Retail Investors

The Financial Conduct Authority has prosecuted Daniel Pugh, who was found guilty of operating a Ponzi scheme and committing fraud. Pugh ran the scheme through a company called the Imperial Investment Fund. He raised over £1.3 million from 238 investors, most of whom were recruited via Facebook advertisements.Fraudsters commonly use social media platforms such as Facebook, X, Telegram, WhatsApp, YouTube, TikTok, and Instagram Reels to target reta…

Devon Man Convicted Over UK Ponzi Scheme That Promised 350% Returns - FinanceFeeds

A Devon man who promised eye-watering daily returns through an online investment scheme has been found guilty of fraud after conning hundreds of investors out of more than £1.3 million. Daniel Pugh, 35, used social media adverts—primarily on Facebook—to promote his so-called Imperial Investment Fund (IIF), which promised returns of 1.4% a day, 7% a week, or a staggering 350% a year. The fund, which operated between March 2019 and August 2020, tu…