SCUNTHORPE, UK – June 5, 2026 – Declan Nowell, a 32-year-old company director from Scunthorpe, has been sentenced to over eight years in prison for orchestrating a sophisticated Ponzi scheme that defrauded more than 600 individuals out of approximately £9 million. The conviction, handed down at Hull Crown Court, follows an extensive investigation by Humberside Police into his fraudulent company, ‘Investing4you Ltd’.
Nowell’s scheme, which promised investors lucrative returns from foreign exchange (Forex) trading, was exposed as a classic Ponzi operation, using new investors’ money to pay fabricated returns to earlier participants. This fraudulent enterprise left hundreds of victims, many from the local Scunthorpe and North Lincolnshire areas, facing significant financial losses, including life savings.
Declan Nowell’s Deceptive Enterprise Unravels
Declan Nowell, born May 19, 1994, presented himself as an astute investment professional through ‘Investing4you Ltd’. He lured investors with promises of high returns and minimal risk from Forex trading, a market he claimed to navigate with expert precision. In reality, very little of the £8,977,529.32 received from investors ever reached genuine trading platforms. Of the substantial sums collected, only £968,113 was actually placed in trading accounts, and these trades consistently resulted in losses.
Instead of legitimate investment, Nowell diverted over £1 million of investor funds to fuel an extravagant personal lifestyle. This included the purchase of a McLaren supercar, a house, high-end jewelry, and designer clothing, while simultaneously manipulating account balances to display fictitious daily “profits” to his unsuspecting clients. Approximately £7.3 million was repaid to earlier investors, but crucially, this was sourced directly from new investor funds, not from any actual trading success.
The scale of the fraud is staggering. More than 600 individuals were impacted, many losing substantial portions of their savings. The scheme’s true nature began to emerge in 2021 when members of the public reported difficulties withdrawing their funds from ‘Investing4You’.
“This case serves as a stark reminder that if an investment opportunity seems too good to be true, it almost certainly is. The allure of high returns often masks a deeper, fraudulent intent.”
The investigation by Humberside Police’s Economic Crime Unit, led by Detective Constable Paul Twidale, was launched in 2021. This followed the initial reports and a crucial warning issued by the Financial Conduct Authority (FCA) in August 2021, which identified Investing4You Ltd as an unauthorised firm providing investment services to UK residents. This lack of FCA authorization meant investors were not protected by the Financial Services Compensation Scheme.
The legal proceedings culminated on February 13, 2026, when Declan Nowell pleaded guilty on the first day of his trial at Hull Crown Court. He admitted to two counts of fraud by abuse of position and one count of operating an unauthorised, unregulated investment scheme. On May 29, 2026, he was sentenced to eight years and one month in prison. He also received a ten-year disqualification from holding a director position at any company. The Crown Prosecution Service (CPS) has confirmed that confiscation proceedings under the Proceeds of Crime Act (POCA) are now underway to recover assets gained through his criminal activities.
The victims, predominantly from the local community, placed their trust and their money into Nowell’s hands, only to see it squandered on his personal luxuries. This case highlights the devastating impact that investment fraud can have on individuals and communities.
As this case concludes, it’s imperative for the public to remain vigilant against similar schemes. Several red flags were evident in Nowell’s operation: the promise of high returns with little to no risk, which is a hallmark of Ponzi schemes; the firm’s lack of authorization from the FCA; difficulties in withdrawing funds; and Nowell’s ostentatious display of wealth on social media, which often belied the true source of his income. Always verify the regulatory status of any investment firm with the FCA before committing funds. For more information on related fraud investigations, consult trusted financial resources.
