Cru investment management founder Jon Maguire cashed in his £150,000 investment in Arch cru just 14 weeks before the fund range was suspended, and while his firm was still promoting the troubled fund to other investors.
Documents detailing Maguire's personal pension arrangements seen by IFAonline show he invested £154,802 - £77,016.26 in each of the CF Arch cru Investment and CF Arch cru Specialist portfolios - in October 2006 but dumped all of his units on 28 November 2008. The investments - which had grown to £94,479.61 in the Specialist portfolio and £80,998.49 in the Investment portfolio - were sold for a cash profit and Maguire then deposited the total £175,478.10 into his Self-Invested Personal Pension. Just 14 weeks later, on 13 March 2009, the decision to suspend dealing on the funds was take...
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