Investors who lost money in failed property scheme Arck may finally find out if they will receive compensation when the Financial Services Compensation Scheme (FSCS) issues an update in March.
The FSCS has been receiving claims against advisers relating to advice to invest in Arck as far back as September 2013. These claims have been on hold pending the outcome of a joint investigation by the Serious Fraud Office (SFO) and Nottinghamshire Police against two former partners of Arck, Kathryn Joy Clark and Richard Aston Clay. Clark and Clay last year pleaded guilty to three fraud charges by the SFO, and are currently awaiting sentencing. Now the criminal proceedings are at an end, the FSCS said it "hopes to provide a further update relating to these claims by the end of Mar...
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