Court Orders FCA To Start Compensating Fraud Case Victims

Law360, London (April 7, 2021, 12:54 PM BST) -- The High Court has ordered the Financial Conduct Authority to begin paying compensation to investors defrauded out of £18.7 million ($25.8 million) in phony investment schemes in Africa, Australia and Brazil run by a rogue investment firm.

The High Court has ruled that victims of the £18.7 million ($25.8 million) investment fraud will start getting their money back in June. (iStock) Judge Paul Morgan ruled in a March 30 order, which has newly been made public, that victims of the scheme run by Capital Alternatives Ltd. will start getting their money back on June 21. The company organized scam investments in rice harvests in...

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