A former Nasa scientist has been jailed for two years after defrauding more than 100 people out of £1 million through an unauthorised investment scheme. John Burford, 85, from Mansfield in Nottinghamshire, admitted in June to misleading investors and using part of the funds to buy a house. He was sentenced at Southwark Crown Court on Friday.
Burford, who holds a PhD in physics from the University of Toronto, once worked on Nasa’s manned Mars exploration programme in Washington D.C. But after leaving science, he reinvented himself in finance, marketing investment opportunities through his firm, Financial Trading Strategies, between 2016 and 2021.
Misleading Promises and Hidden Losses
According to the Financial Conduct Authority (FCA), Burford promoted the scheme through blogs, self-published articles and a book, convincing investors he had expertise in trading markets. Many victims said they trusted him because of his scientific credentials and apparent financial knowledge.
The FCA investigation revealed that Burford was not authorised to run investment schemes and repeatedly misrepresented the performance of his trades. While he received more than £1m from investors, only £760,000 was ever placed in the markets — most of it lost. Prosecutors told the court he concealed losses, diverted funds for personal use, and spent significant sums on property.
Court Sentencing and Ongoing Action
Burford was sentenced to two years in prison for fraud by false representation and a year for each of three offences under the Financial Services and Markets Act. The sentences will run concurrently. The FCA confirmed it is now pursuing confiscation proceedings to recover stolen funds and compensate victims.
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.”
The watchdog urged anyone who believes they were affected by the scam to come forward.
