A former appointed representative of the Sense Network is being investigated by police for allegedly running an unauthorised deposit taking scheme, Police Scotland has confirmed.
Individuals associated with Aberdeen-based Midas Financial Solutions are alleged to have operated and controlled the scheme, for which the firm had no authorisation from its former network. Midas, which is no longer authorised by the FCA, was authorised by Sense until August this year, when the network broke ties with the firm. Police Scotland have written to potential victims to say they will not be eligible for compensation as the scheme run by Midas was unauthorised. The Financial Services Compensation Scheme (FSCS) confirmed it will only cover regulated investment business. ...
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