FCA Wins £3.6M For Duped Investors In Music Co. Share Sale
Law360, London (May 6, 2020, 4:42 PM BST) -- A judge ordered four individuals and a company on Wednesday to pay the Financial Conduct Authority £3.6 million ($4.5 million) over a failed attempt to revive the brand behind Our Price, one of Britain's biggest chains of music stores, saying they misled investors into backing the project.
Kelyn Bacon QC, sitting as a judge at the High Court, ordered former executives Lee Skinner and Karen Ferreira and ex-marketing agents Clive Mongelard and Tyrone Miller to pay investors restitution for their role in promoting an illegal share sale scheme.
Skinner and Ferreira misled accountants into unwittingly signing off promotional materials that failed...
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