FCA takes court action over failed £50m care home UCIS
Investors lost £30m
"Payments of this kind were only ever likely to be possible by taking money from later investors to pay the earlier investors - unsustainable characteristics which are present in ponzi schemes." - FCA
The regulator has started High Court proceedings against two men and their firm over links to a failed unauthorised collective investment scheme (UCIS) which saw investors lose at least £30m.
The Financial Conduct Authority (FCA) alleged Robin Forster and Richard Tasker, along with firm Fortem Global, carried out unauthorised activity in relation to the care home investment scheme which raised...
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