On 25 February 2025, the United Kingdom Financial Conduct Authority (UK FCA) announced that the criminal trial of John Dance, the former principal partner of WealthTek LLP, has been scheduled for September 2027 at Southwark Crown Court. The case concerns allegations of fraud and money laundering involving the misappropriation of £64 million in customer funds between 2014 and 2023.
The UK FCA’s enforcement action follows the charges brought against John Dance in December 2024 for multiple offences linked to fraudulent financial activities at WealthTek LLP. On 24 February 2025, at a plea and trial preparation hearing at Southwark Crown Court, John Dance pleaded not guilty to three counts of fraud by abuse of position and three counts of fraud by false representation.
John Dance faces nine charges under UK fraud and financial crime legislation, including three counts of fraud by abuse of position under Sections 1 and 4 of the United Kingdom Fraud Act 2006, three counts of fraud by false representation under Sections 1 and 2 of the United Kingdom Fraud Act 2006, and three counts of converting or transferring criminal property under Section 327(1) of the United Kingdom Proceeds of Crime Act 2002. He made his initial court appearance at North Tyneside Magistrates’ Court on 3 January 2025, where his conditional police bail was extended, and the matter was referred to Southwark Crown Court.
With the trial set to commence in September 2027, if convicted, he could face fines and imprisonment, with the possibility of asset confiscation under the United Kingdom Proceeds of Crime Act 2002.
