Fraudster Sentenced to 7 and a Half Years in Jail After Taking £1.3 MILLION in Ponzi Scheme

Fraudster sentenced to 7 and a half years in jail after taking £1.3 MILLION in Ponzi scheme

A fraudster has been jailed for more than seven years after running a £1.3million Ponzi scheme from his bedroom.Daniel Pugh helped set up the fraudulent Imperial Investment Fund (IIF), taking money from 238 investors whom he largely targeted using Facebook adverts.Investors who were victims of the Ponzi scheme were offered "impossibly high returns" of 1.4 per cent a day, seven per cent a week or 350 per cent a year, the Financial Conduct Authori…

Daniel Pugh sentenced to 7 and a half years in prison for £1.3m Ponzi scheme

Daniel Pugh has been sentenced to 7 years and 6 months in prison for running a £1.3 million Ponzi scheme, following a prosecution brought by the Financial Conduct Authority (FCA). Pugh, aged 35, set up a Ponzi scheme with another individual that netted over £1 million. Run from his bedroom in Devon, the fraudulent Imperial Investment Fund (IIF) took money from 238 investors Pugh targeted largely through Facebook adverts. Investors were offered i…

Man Behind Facebook “Ponzi Scheme” Promising 350% Returns Gets Over 7 Years

A Ponzi scheme promising exceptionally high returns to hundreds of investors running from a modest bedroom in Devon has ended with a prison sentence for its operator. According to the FCA, the fraudulent fund managed to collect over £1.3 million from 238 investors, mainly through Facebook advertisements promising unrealistically high daily and annual gains. The scheme promised returns as high as 350% annually, a figure unlikely in a legitimate i…

Devon Man’s £1m Ponzi Scheme Highlights Regulatory Challenges

The case of Daniel Pugh, a 35-year-old who orchestrated a £1m Ponzi scheme from his bedroom in Devon, serves as a stark reminder of the persistent threat posed by unauthorised investment schemes. Pugh’s Imperial Investment Fund (IIF) targeted 238 investors through Facebook adverts, promising impossibly high returns that were, in reality, a massive fraud. This case underscores the critical role of… Source

FCA secures seven-year jail term for £1.3m Ponzi fraudster

A man has been jailed for seven years and six months after running a £1.3m Ponzi scheme from his bedroom.Daniel Pugh, 35, set up the fraudulent Imperial Investment Fund (IIF) with another individual, taking money from 238 investors he largely targeted through Facebook adverts.

Operator of Imperial Investment Fund gets prison sentence

Daniel Pugh has been sentenced to 7 years and 6 months in prison for running a £1.3m Ponzi scheme, following a prosecution brought by the FCA.