CA Secures £265,523 Confiscation Order Against Collateral Fraudster Andrew Currie

The Financial Conduct Authority (FCA) has secured a £265,523.96 confiscation order against Andrew Currie, a former director linked to the collapsed peer-to-peer lending platform Collateral (UK) Ltd, marking another significant step in its efforts to strip fraudsters of illicit gains and return funds to victims.

Currie was convicted in 2023 and sentenced to 2 years and 6 months’ imprisonment after defrauding investors through Collateral, a platform that raised funds from retail investors under the guise of secured lending. Instead of safeguarding investor money, Currie diverted funds for personal use, including the purchase of a property in Spain, causing substantial losses to those who trusted the platform.

At a hearing held at Southwark Crown Court on 9 January 2026, the court determined that £265,523.96 represented the total value of assets still available for recovery. The confiscation order requires Currie to pay this amount, which will be redistributed to the victims of his crimes. If he fails to comply within three months, he faces a default prison sentence of up to three years.

Commenting on the outcome, Steve Smart, Executive Director of Enforcement and Market Oversight at the FCA, said the decision sends a clear deterrent message. He emphasised that the regulator will continue to pursue fraudsters relentlessly and ensure they do not retain the proceeds of criminal activity.

The confiscation order was made under the Proceeds of Crime Act 2002, which enables the courts to require offenders to repay the benefit obtained from criminal conduct, subject to their available means. While confiscation focuses on depriving criminals of illicit assets, the redistribution of recovered funds plays a crucial role in compensating victims, reinforcing the FCA’s commitment to consumer protection.

This case forms part of the FCA’s wider enforcement strategy to hold individuals accountable for investment fraud and to maximise financial recovery for those harmed. It follows the conclusion of confiscation proceedings against Peter Currie in November 2024, when an order of £5,000 was made, underlining the regulator’s continued focus on asset recovery long after criminal convictions are secured.

Read the press release here.