The Financial Conduct Authority (FCA) has secured High Court approval to obtain £1.6m from Argento Wealth (AWL) and its sole director.
This comes after court proceedings for Daniel Willis concluded after he was found to have promoted two unlawful investment schemes and took approximately £2.8m from investors as part of an unauthorised collective investment scheme and/or as deposits under loan. The FCA also alleged that AWL unlawfully arranged investments in EMB Fund totalling about $9m (£7.1m) which breached the restrictions on financial promotion and Wills was knowingly concerned in this activity. Reported in February last year, the FCA commenced civil proceedings against AWL and Willis to recover investor funds lin...
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