A financial advisor has been charged after allegedly stealing more than £2.3 million from clients.

Lisa Maureen Campbell is accused of misappropriating her clients' funds on multiple occasions over more than ten years between April 2013 and May 2023.

She was the sole director of Campbell & Associates Independent Financial Advice Ltd, a Financial Conduct Authority-authorised financial advisory firm based in West Wellow that was permitted to provide advice on products including investments, insurance and pensions.

However, the FCA says it was not authorised to hold or control client money.

The industry regulator has accused Campbell of creating multiple false documents which she used to falsely reassure her clients that their money had been invested, and that false documents were provided to the FCA to conceal criminal behaviour.

During the period, the FCA alleges that Campbell stole more than £2.3m, leading to significant financial losses for multiple victims, including family members, friends and a vulnerable child.

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The 55-year-old faces six charges of fraud by abuse of position, and a charge of knowingly providing false information in purported compliance with a requirement imposed under the Financial Services and Markets Act 2000.

She has been released on bail and will appear at Portsmouth Magistrates Court on 17 April 2025. 

The charge is the latest step in a 24-month investigation, which was opened by the FCA in February 2023.

The regulator has worked alongside Hampshire Constabulary in the investigation.

Therese Chambers, joint executive director of enforcement and market oversight, said: "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."

It comes after the FCA restricted the firm from carrying out any regulated activity or reducing the value of its assets without its consent in February 2023.

Further conditions were imposed in April of the same year, preventing Campbell from performing any activity for which she had approval without written consent from the FCA.