The Financial Conduct Authority has charged Lisa Campbell of Campbell & Associates Independent Financial Advice Ltd (FRN 602550) with multiple fraud offences.

The FCA alleges that Mrs Campbell misappropriated funds from clients on numerous occasions between 1 April 2013 and 10 May 2023.

The regulator alleges that she stole over £2.3m, leading to significant financial losses for multiple victims, including family members, friends and a vulnerable child.

The allegations include that Mrs Campbell created multiple false documents which she used to falsely reassure her clients that their money had been invested.

In addition, the FCA alleges that Mrs Campbell provided false documents to the FCA in an effort to conceal her criminal behaviour.

Campbell & Associates provided financial advice on investments, insurance and pensions but was not authorised to hold client money. It operated as Campbell & Raffle Independent Financial Advice Ltd until November 2020.

The firm held FCA permissions from 4 October 2013 until 9 February 2023.

The FCA first began its investigation into Mrs Campbell in February 2023. The regulator issued its first supervisory notice to Campbell & Associates in February 2023, requiring the firm to cease regulated activities and notify customers and platform providers of the restrictions.

On 3 April 2023, due to concerns that Mrs Campbell had not complied with restrictions imposed on the firm on 9 February 2023, the FCA imposed conditions preventing Mrs Campbell from performing any activity for which she has approval without the FCA’s written consent.

Mrs Campbell has been released on bail and will appear at Portsmouth Magistrates Court on 17 April.