John Burford has been jailed for two years after defrauding more than 100 investors out of £1m through his firm, Financial Trading Strategies Limited.
Burford, of Mansfield, ran the business between 2016 and 2021, promoting three self-branded funds despite lacking FCA authorisation.
The regulator said the 84-year-old misled investors about performance, concealed losses and diverted money to buy property and fund his lifestyle.
He attracted clients through self-published articles, blogs and a book designed to showcase his trading credentials.
Victims told the court they placed considerable trust in him, with many describing the severe financial and emotional toll of the fraud.
Sentencing Burford, His Honour Judge Coles described it as “a sustained fraud causing much misery to investors”, adding that “old age is never an excuse for avoiding punishment for serious offending”.
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.”
The FCA is now pursuing confiscation proceedings to recover funds and compensate victims.
The case follows other recent FCA action against investment fraud, including the conviction of Daniel Pugh, who ran a £1m Ponzi scheme.
