FCA Recovers £1.2M Lost To Health Care Investment Scam
Law360, London (September 26, 2019, 6:16 PM BST) -- A London judge Thursday ordered a doctor to pay nearly £1.2 million ($1.48 million) for duping hundreds of investors into buying essentially worthless health care company shares, a sum the prosecutor said would allow the Financial Conduct Authority to compensate every victim.
Muhammad Mirza raked in more than £1.19 million from his criminal conduct and still has the assets to repay that amount, according to the FCA prosecutor, Andrew Bird of 5 St Andrew's Hill.
Add that amount to the confiscation order issued by the court last week against the scam’s operator, Samrat Bhandari, and the tally is around £1.4 million, the...
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