£4m investment fraudster jailed for seven years
Victims were promised returns in regions of 9-12%
ANNOUNCEMENT: UK Adviser is now PA Adviser. Read more.
Victims were promised returns in regions of 9-12%
They ‘masqueraded’ as an authorised company to ‘defraud consumers’
Victims were offered returns of 60% per year
They were victims of unauthorised investment arrangements and advice
Greater accessibility to retirement savings could leave Brits ‘highly vulnerable to a wide-scale wave of scams’
After being found guilty in April 2023
As the government looks to ‘take the fight to the scammers and fraudsters’
Victims were told investment was low risk and they could withdraw funds at any time
‘He is a cruel and deceptive man who will now face the consequences of his choices’
European authorities say there have been at least 33,000 victims of the scheme
FCA says it will continue to ‘identify and disrupt rogue traders operating in the UK’
‘Vicious’ scams have ‘devastated families and cost individuals their life savings’