FCA Poised To Grab Assets In £1.4M Investment Scheme Case
Law360, London (February 22, 2019, 10:09 PM GMT) -- The Financial Conduct Authority asked a London judge Friday to move forward with confiscation proceedings against four men who conned investors into buying up to £1.4 million ($1.8 million) of “worthless” shares in a health care company that purportedly operated clinics, saying it might be possible to get back nearly all of the money lost.
At a hearing in Southwark Crown Court, an attorney representing the FCA, Andrew Bird of 5 St Andrew's Hill, told Judge Nicholas Loraine-Smith that victims and creditors were lining up with claims.
Company assets connected to the two main men behind the scheme, Muhammad Aleem Mirza,...
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