Three charged over CFD trading pension fraud

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Summary:

The Financial Conduct Authority (FCA) has charged three individuals, Kristofer McGuire, Keith Williamson, and Karla Walker, with fraud related to a high-risk trading scheme. The scheme, which operated between 2015 and 2023, targeted individuals, persuading them to invest in Contracts for Difference (CFDs) by making false and misleading representations. The FCA alleges that the individuals made untrue claims about the investors' qualifications and engaged in fraudulent trading, resulting in losses of over u00a38 million. The defendants will appear in court on June 7, 2024. The FCA has previously warned that 80% of customers lose money when investing in CFDs due to the high risks involved.