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Cos. Shuttered For Running £1.4M Art Investment Scam

Law360, London (March 13, 2019, 5:21 PM GMT) -- Two companies allegedly involved in a fraudulent art investment scheme have been shut down after stealing £1.4 million ($1.9 million) of investors’ money, a government agency said Wednesday.

Halifax Mannin Ltd., based in Wales, and Hey Design Services Ltd., based in Birmingham, England, were wound up “in the public interest” by District Judge Adrian Bever on March 1 at the High Court in Manchester, the Insolvency Service said.

An investigation by the agency uncovered that for more than a year, Halifax Mannin and Hey Design Services took cash from people who had been persuaded to make investments in what they thought...

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