The Financial Conduct Authority has banned three former senior figures at wealth management firm Dolfin Financial (UK) for helping clients bypass UK investor visa rules.
Former CEO Denisz Nagy has been fined £324,800 and former finance director Sanjay Maraj £122,000 for their roles in the scheme. Both have been banned from working in financial services. Nagy and Maraj agreed to settle after receiving their fines and received a 30% discount. Additionally, the FCA has decided to ban Dolfin co-founder, Roman Joukovski, from working in financial services. Between 2016 and 2019, most clients using the scheme at Dolfin paid a fee of £400,000 instead of investing £2m of their own money in UK companies, as required under the Home Office investor visa rul...
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