Former NASA physicist John Burford has been sentenced to two years in prison in a £1m UK investment fraud case, following a prosecution brought by the FCA.

Mansfield-based Mr Burford, 85, defrauded more than 100 investors between 2016 and 2021 through his firm, Financial Trading Strategies Limited, where he was the sole director.

He offered trade alerts and investment opportunities in three self-named funds, despite lacking FCA authorisation. The FCA found he repeatedly misled investors about fund performance, concealed losses and used their money to buy property and support his lifestyle.

Mr Burford attracted a range of investors through self-published articles, blogs, and a book which he used to promote his trading credentials and broaden his reach.

Investors of Mr Burford described placing considerable trust in him because of his purported expertise and many described the significant financial and emotional impact his offending had on their lives.

Mr Burford pleaded guilty to the charges brought against him in June.

The sentencing was made up of two years’ immediate imprisonment for fraud by false representation, one year immediate imprisonment for each of three Financial Services and Markets Act offences to be served concurrently with each other and with the sentence for fraud. The total sentence of imprisonment was therefore two years.

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.

“We are asking anyone who believes they have been affected by this investment scam to contact us.”

The FCA is pursuing confiscation proceedings to deprive Mr Burford of the proceeds of his crimes and compensate victims.

In sentencing, His Honour Judge Coles described the case as a “sustained fraud causing much misery to investors,” noting that the defendant “used other people’s hard-earned money as a cash fund to purchase a house and for living expenses.”

He added that “old age is never an excuse for avoiding punishment for serious offending.”

To Mr Burford, the judge added: “You marketed yourself as a highly skilled trader and tricked people into having confidence in you”.