Law360, London (March 18, 2020, 5:07 PM GMT) -- A wine merchant has been shut down by England’s High Court for misleading investors and failing to deliver customers’ orders in an unregulated investment scheme, the Insolvency Services said on Wednesday.
Dow and Jones Ltd. was put into compulsory liquidation in the public interest at a High Court hearing on Tuesday by Deputy Judge Cheryl Jones, who held that the promised returns to investors were “vastly overstated.”
In her judgment, the deputy judge stated that “there is something extremely wrong about this company,” according to the Insolvency Service.
“The courts recognized the unscrupulous nature of Dow and Jones when it wound...
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