Scams Targeting Investors In Failed Schemes, Agency Warns

Law360, London (January 14, 2020, 3:54 PM GMT) -- Investors must be alert to scammers who claim they can recover money from defunct investment schemes for a fee, a government agency has said as it urged consumers to check with the Financial Conduct Authority whether claims management companies are legitimate.

The Insolvency Service said on Monday that fraudsters have been impersonating official receivers, which manage bankruptcies and companies wound up by courts.

Con artists are telling investors in failed companies that they can recover their money, the agency said. It warned that such approaches are always fraudulent because official receivers and their agents will never ask for money in return for retrieving...

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