Financial Adviser Faces Multi-Million Pound Fraud Charges

The Financial Conduct Authority (FCA) has charged Mrs Lisa Campbell, the sole director of Campbell & Associates Independent Financial Advice Ltd.(Campbell & Associates), with multiple criminal offences, including fraud by abuse of position and providing false or misleading information to the FCA. The charges arise from allegations of significant financial misconduct between 1 April 2013 and 10 May 2023.

Campbell & Associates, previously operating as Campbell & Raffle Independent Financial Advice Ltd. until November 2020, was an FCA-authorised firm providing investment, insurance, and pension advice. Despite being authorised for financial advice, the firm was not permitted to hold or control client funds.

According to the FCA, Mrs Campbell misappropriated over £2.3 million of client funds during the specified period, affecting numerous victims including family members, friends, and even a vulnerable child. The FCA also alleged that Mrs Campbell created false documents to reassure clients that their funds were invested and provided misleading information to the FCA to conceal her criminal activities.

Therese Chambers, joint executive director of Enforcement and Market Oversight, said: “Mrs Campbell’s actions are a betrayal of trust on a massive scale. We allege she used her position to defraud clients out of millions, including vulnerable people and her own friends and family who relied on her for advice, using falsified documents to cover up her lies. We are determined to hold her accountable for her actions.”

Mrs. Campbell has been released on bail and is scheduled to appear at Portsmouth Magistrates Court on 17 April 2025.