Fraudster jailed over UCIS scheme

Adam Hawkins has been sentenced to six years and nine months for losing investors £4.3m in an unauthorised collective investment scheme he operated through three land bank companies.

Fraudster jailed over UCIS scheme

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Hawkins, a salesman, was involved in the management of Plott UK, European Property Investments and Stirling Alexander, which was mis-sold to over 110 investors.

Hawkins’ case follows sentences of up to eight years imprisonment handed down in earlier hearings against seven other defendants in relation to the case.

The convictions are part of Operation Cotton, one of the FCA’s largest ever investigations and prosecutions.

Judge Leonard QC, who sentenced Hawkins, described the case as a “very substantial and deliberate fraud on the public”, and as “subtle and cruel”.

Georgina Philippou, acting director of enforcement and market oversight, said: “This investigation and prosecution by the FCA has led to immediate custodial sentences for eight people totalling 32 years and nine months, showing how seriously the courts view this kind of offending.

“This prosecution demonstrates that we will not shy away from taking firm and decisive action to protect consumers and the integrity of the financial services industry, as well as holding individuals and companies to account for illegal investment activities.”

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