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.
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.
Tags: Fraud | Land Banking | Scams
