Lisa Campbell, director of Campbell and Associates Independent Financial Advice Ltd (Campbell and Associates), has been charged with fraud by abuse of position and providing false or misleading information to the Financial Conduct Authority (FCA) to conceal her wrongdoing.
The company was trading as Campbell and Raffle Independent Financial Advice until November 2020.
The charges relate to activity between 1 April 2013 and 10 May 2023, when the FCA alleges Campbell misappropriated funds from clients on more than one occasion.
The regulator said she created multiple false documents to falsely reassure clients that their money had been invested. The regulator also alleges that Campbell gave it false documents to hide her wrongdoing.
It has been alleged that Campbell stole more than £2.3m from clients, resulting in significant financial losses for the victims, which included family members, friends and a vulnerable child.
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Campbell has been released on bail and will appear at Portsmouth Magistrates Court on 17 April 2025.
Therese Chambers, joint executive director of enforcement and market oversight at the FCA, 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.”
In 2023, the regulator restricted Campbell from carrying out regulated activities without its written consent.
The FCA said it had taken 24 months to bring forward criminal charges, an improvement on the 42-month average timescale in 2023 to 2024, showing it had sped up the pace of enforcement investigations.
