Blackburn man pleads guilty in £19m investment fraud case
Plea entered at Southwark Crown Court
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Plea entered at Southwark Crown Court
The man alongside four others lured investors into a fake ‘green’ investment scheme
11,000 investors lost over £237m between 2014 and 2019
Victims have lost around £5.5m
As the FCA secures confiscation order against convicted investment adviser
He will appear at Southwark Crown Court on 15 August 2023 for a plea and trial preparation hearing
It is an ‘important step towards protecting’ investors in the country
‘I hope the sentence he is given will reflect the devastating impact his greed has had on his victims’
‘Abrupt collapse’ of company saw around 3,500 UK investors lose £70m
They were also co-directors of an offshore fund based in the British Virgin Islands
Many victims lost most or all of the money they had entrusted to him
He has been handed a 14-year sentence but did not turn up to trial and is reportedly in Turkey or Dubai