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UK fraudsters fined £2m over property scam

24 May 17

A long-running investigation by the UK’s Financial Conduct Authority (FCA) has finally ended after eight men were convicted and fined over £2m (€2.3m, $2.5m) for running a property scam which conned investors out of more than £4.3m.

The defendants were convicted of offences including conspiracy to defraud and breaching the general prohibition by conducting investment business without FCA authorisation.

Other offences included aiding and abetting a breach of the general prohibition, possessing criminal property, and providing false and misleading information to the then FSA in a compelled interview.

Pages: Page 1, Page 2

Tags: Fraud | Land Banking | Scams

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