The Financial Conduct Authority (FCA) has begun High Court proceedings over an alleged unauthorised investment scheme involving consumer investments of more than £23m in static homes.
The proceedings are against Concept Capital Group (CCG), Ian Anthony Elliott, Adrian Felix, Ayub Swaibu, Edmund Brew, Ernest Kargbo, Raymondip Bedi, Riverrun Consulting and Gateridge Consulting. CCG has given undertakings to the Court which have the effect of freezing its assets, pending the outcome of the trial or further order of the Court. These undertakings also prohibit the promotion or sale of the scheme. The FCA claims that CCG promoted investments in static homes, which were said to be let to social housing tenants placed by local councils. Investors were promised fixed return...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
