The UK Financial Conduct Authority (FCA) has secured a confiscation order of £452,286.80 against convicted fraudster Daniel Pugh. Mr Pugh is currently serving a prison sentence of 7 years and 6 months for defrauding investors out of £1.3 million.
Pugh used Facebook adverts to target investors, promising wholly unrealistic returns that he claimed would be generated by trading across various markets. According to the findings, only 19% of the funds collected from investors were actually traded. The scheme was, in effect, a Ponzi scheme and was operated with another individual.
At a hearing at Southwark Crown Court on 5 June 2026, Mr Pugh was ordered to pay £452,286.80. This amount represents the total value of the assets the court determined were available for recovery from him. The funds obtained through the confiscation order will be used to compensate the victims of his crimes.
If Mr Pugh fails to pay the confiscation order within 3 months, he faces a default prison sentence of up to 4 years and 9 months, in addition to his existing sentence. This enforcement action forms part of the FCA’s efforts to recover funds for investors affected by his fraudulent activities.
Victim compensation and final call
The FCA is now making a final call for any remaining victims of Pugh’s scheme to come forward. Potential victims have been asked to contact the FCA by 30 June 2026 so that they can be considered for compensation from the recovered assets.
The confiscation order and the call for remaining victims underscore the authorities’ focus on asset recovery and victim redress following the discovery and prosecution of the fraudulent investment scheme run by Pugh and another individual.
