FCA to confiscate £2.2m from UCIS fraudsters

Judge Leonard QC ordered for the money to be confiscated from the defendants so it could be paid to the victims in compensation. This would lead to investors receiving about 40% of the amount owed to them, he said. The UCIS was operated through three companies between July 2008 and November 2011: Plott Investments (which changed its name to Plott UK), European Property Investments and Stirling Alexander. More than £5m was extracted from investors to buy land at a vastly inflated price on the false promise of a substantial profit, which never materialised. Scott Crawley and the sale...