FCA secures £265,523 confiscation order against peer-to-peer fraudster

The Financial Conduct Authority has obtained a confiscation order worth more than £265,000 against Andrew Currie following his conviction for defrauding investors through the collapsed peer-to-peer lender Collateral.

The FCA has secured a £265,523.96 confiscation order against Andrew Currie, who was sentenced in 2023 to two years and six months’ imprisonment for fraud and money laundering linked to the failure of Collateral (UK) Ltd.

Currie was convicted of diverting funds from investors using the peer-to-peer lending platform and applying them for personal benefit, including the purchase of a property in Spain.

FRAUD VICTIMS

At a hearing at Southwark Crown Court on 9 January 2026, the court ruled that £265,523.96 represented the total value of assets still available to be recovered. The sum will now be redistributed to victims of the fraud.

Steve Smart, the FCA’s executive director of enforcement — Steve Smart, FCA

Steve Smart, executive director of enforcement and market oversight at the FCA, said: “Mr Currie sought to profit by defrauding unwitting investors.

“Today’s decision is a clear warning to fraudsters and scam artists that we will pursue them and ensure they don’t benefit from their criminal activity.”

If Currie fails to pay the confiscation order within three months, he faces a default prison sentence of up to three years.

The FCA said the confiscation proceedings form part of its wider work to recover funds for victims of fraudulent investment schemes.

BACKGROUND TO THE CASE

Currie, who is originally from Dumfries and now resides in Lancashire, was sentenced on 14 July 2023 to two years and six months’ imprisonment for fraud by abuse of position, and a further two years and six months for money laundering under section 327 of the Proceeds of Crime Act 2002.

Confiscation orders are made under the Proceeds of Crime Act 2002 and require offenders to repay either the benefit obtained from criminal conduct or the value of their available assets, whichever is lower. Compensation to victims can only be paid after sums ordered by the court have been recovered.

The confiscation proceedings against Peter Currie, who was also convicted in relation to the Collateral platform, concluded in November 2024, when an order of £5,000 was made.