The UK Financial Conduct Authority (FCA) has secured a confiscation order of £452,286.80 against convicted fraudster Daniel Pugh.

Mr Pugh is serving a 7 years and 6 months prison sentence for defrauding investors out of £1.3 million.

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 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: OpHainesConsumerContact@fca.org.uk
• 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.