A £291,070 confiscation order has been issued by the Courts in favour of the Financial Conduct Authority (FCA) against convicted fraudster Mr Mark Barry Starling, after he was sentenced to 5 years in prison for defrauding just under £3 million for operating unauthorised investment schemes between 2008 and 2017.
Mr Starling has been ordered to pay the confiscation order on time to prevent him spending a further 2 ½ years in prison.
The monies will be given to the 14 victims who lost around £1.8 million in total.
Executive Director of Enforcement and Market Oversight Mark Steward at the FCA said: “ We shall continue to ensure and take action on these fraudsters and any criminal activity. We prosecute so victims can be compensated."
Fraud is increasing as technology advances and we urge you all to be very careful about who you talk to or place your trust in connection with your money. Legitimate firms do not cold call, legitimate frism do not send spam texts or emails. Alway check with the FCA register that a firm is authorised to help you.