Investment Firms Deny Misleading Consumers In FCA Lawsuit
Law360, London (March 12, 2020, 7:36 PM GMT) -- Four British businessmen sued by the Financial Conduct Authority for allegedly convincing investors to put money into nonexistent assets have hit back at the agency for taking an investment presentation out of context, saying it was never meant to promote the schemes.
A PowerPoint and other documents presented to consumers were aspirational and never meant to mislead investors, the men wrote in a Monday defense filed with the High Court.
The FCA says the men — Mohammed Zakir Hussain, Mohammed Kabir, Mohammed Abdul Kahhar and Kayes Miah — made false promises to invest in agriculture, recycling, real estate, gold and diamonds, but instead sunk some...
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