FCA and lawyers settle illegal care home investment scheme lawsuit

Scheme saw £57m taken from 380 investors

Jen Frost
clock • 3 min read

The Financial Conduct Authority (FCA) has welcomed a “positive outcome for investors” following the settlement of its High Court lawsuit against a law firm over its role in a care home investment scheme.

The regulator's High Court case against Lupton Fawcett, now settled on confidential terms, regarded work undertaken for the Qualia group of companies by a former member of the firm in and around 2016. The FCA had alleged that Lupton Fawcett had been "knowingly concerned" with the promotion of schemes operated by Qualia. UK-based Qualia investors are expected to be contacted by the FCA "in due course" to arrange the distribution of funds. As part of the settlement process, Lupton Fawcett said: "Lupton Fawcett wishes to express its profound regret that it ever became involved with th...

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