UK Financial Conduct Authority (FCA) to Confiscate $604,000 (£452,286.80) from Convicted Ponzi Fraudster Daniel Pugh Who is Serving 7-Year & 6-Month Jail Term for $1.7 Million (£1.3 Million) Imperial Investment Fund (IIF) Ponzi Scheme with High Returns of 1.4% a Day, 7% a Week & 350% a Year, Raised $1.7 Million from 238 Investors Mainly via Facebook Advertisements
9th June 2026 | Hong Kong
UK Financial Conduct Authority (FCA) has secured court order to confiscate $604,000 (£452,286.80) from convicted Ponzi fraudster Daniel Pugh, who is serving 7-year & 6-month jail term for $1.7 million (£1.3 million) Imperial Investment Fund (IIF) Ponzi scheme with high returns of 1.4% a day, 7% a week & 350% a year. Daniel Pugh raised $1.7 million from 238 investors mainly via facebook advertisements. In 2025 August, the UK Financial Conduct Authority (FCA) secured UK court fraud convictions against Daniel Pugh for $1.7 million (£1.3 million) Imperial Investment Fund (IIF) Ponzi scheme with high returns of 1.4% a day, 7% a week & 350% a year. Daniel Pugh raised $1.7 million from 238 investors mainly via facebook advertisements. Announcement (8/6/26): “The FCA has secured a confiscation order of £452,286.80 against convicted fraudster Daniel Pugh. Mr Pugh, 36, is serving a 7 years and 6 months prison sentence for defrauding investors out of £1.3m. Run from his bedroom in Devon, Pugh used Facebook adverts to target investors and promised them wholly unrealistic returns, claiming these would be generated by trading across various markets. Only 19% of the funds collected from investors were traded and the scheme was, in effect, a Ponzi scheme, which was run with another individual. At a hearing at Southwark Crown Court on 5 June 2026, Mr Pugh was ordered to pay £452,286.80. This represents the total value of the assets the court found available for recovery. The funds will be used to compensate the victims of his crimes. If Mr Pugh does not pay the confiscation order within 3 months, he faces a default prison sentence of up to 4 years and 9 months. The confiscation proceedings form part of the FCA’s ongoing work to recover funds for victims of fraudulent investment schemes.”
“ UK Financial Conduct Authority (FCA) to Confiscate $604,000 (£452,286.80) from Convicted Ponzi Fraudster Daniel Pugh Who is Serving 7-Year & 6-Month Jail Term for $1.7 Million (£1.3 Million) Imperial Investment Fund (IIF) Ponzi Scheme with High Returns of 1.4% a Day, 7% a Week & 350% a Year, Raised $1.7 Million from 238 Investors Mainly via Facebook Advertisements “
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Notes:
- Daniel Pugh’s date of birth is 19 April 1990.
- The FCA has carried out extensive inquiries to identify all victims who are eligible for compensation. The FCA is now making a final call for any remaining victims to come forward. If anyone believes they are a victim of Daniel Pugh’s illegal activities and has not been in contact already, they should please contact the FCA with details of their dealings with Pugh as soon as possible and by 30 June 2026. The FCA is also calling for victims that have already been in touch, and confirmed they have lost money, to reach out to finalise their details.
The FCA can be contacted in the following ways:
Emailing: [email protected]
Calling Freephone: 0800 111 6768 or 0300 500 8082
Writing to: Financial Conduct Authority, Unauthorised Business Department, Operation Haines Case Team, 12 Endeavour Square, London E20 1JN. - Daniel Pugh sentenced to 7 and a half years in prison for £1.3m Ponzi scheme.
- Confiscation orders are made under the Proceeds of Crime Act 2002 and require offenders to repay the benefit they gained from criminal conduct or the value of their available assets, whichever is lower.
- The court also made a Compensation Order under the Sentencing Act 2020 and ordered that all sums paid by the Defendant towards satisfaction of his Confiscation Order are to be paid as compensation to the victims.
- Consumers are encouraged to use FCA Firm Checker to check if firms are authorised for the investments being offered.
- The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA.
UK Financial Conduct Authority (FCA) Secures UK Court Fraud Convictions Against Daniel Pugh for $1.7 Million (£1.3 Million) Imperial Investment Fund (IIF) Ponzi Scheme by Daniel Pugh with High Returns of 1.4% a Day, 7% a Week & 350% a Year, Raised $1.7 Million from 238 Investors Mainly via Facebook Advertisements
8th August – The UK Financial Conduct Authority (FCA) has secured UK court fraud convictions against Daniel Pugh for $1.7 million (£1.3 million) Imperial Investment Fund (IIF) Ponzi scheme with high returns of 1.4% a day, 7% a week & 350% a year. Daniel Pugh raised $1.7 million from 238 investors mainly via facebook advertisements. UK FCA (7/8/25): “FCA secures convictions against individual for £1.3m Ponzi scheme. Daniel Pugh has been found guilty of fraud, following a prosecution by the 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 offered impossibly high returns of 1.4% a day, 7% a week or 350% a year. The FCA will commence confiscation proceedings in order to recover the proceeds of crime. Mr Pugh was today found guilty of one count of conspiracy to defraud. At the start of the trial he pleaded guilty to carrying out unauthorised regulated activity which breached sections 19 and 21 of the Financial Services and Markets Act 2000. A further individual remains wanted in relation to the same offences.”
Notes:
- Daniel Pugh’s date of birth is 19 April 1990.
- The FCA has attempted to contact investors who lost out. Anyone who was scammed by IIF and has not heard from the FCA should call or email [email protected].
- The FCA’s ScamSmart page has advice on how to spot and avoid investment scams.
- Mr Pugh was charged on 18 July 2023.
- Mr Pugh’s trial took place at Southwark Crown Court.
- Conspiracy to defraud is an offence under common law with a maximum sentence of 10 years’ imprisonment.
- Under section 19 of FSMA, a person cannot carry on a regulated activity in the UK unless they are FCA authorised or exempt. Any person who breaches this is committing a criminal offence for which the maximum sentence is two years’ imprisonment.
- Under section 21 of FSMA, a person must not communicate an invitation or inducement to invest unless they are FCA authorised or the content of the communication is approved by an authorised person. Any person who breaches this is committing a criminal offence for which the maximum sentence is two years’ imprisonment.
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