FCA urges victims of illegal investment scheme to come forward
Following a hearing before His Honour Judge Hehir in Southwark Crown Court, the UK Financial Conduct Authority (FCA) has secured asset confiscation orders against six individuals who had been convicted of criminal charges in relation to an illegal investment scheme.
The six individuals were convicted and sentenced to terms of imprisonment totalling more than 28 years following the FCA’s largest fraud prosecution.
The court made confiscation orders against:
- Michael Nascimento in the sum of £976,508.83;
- Charanjit Sandhu in the sum of £391,680.17;
- Stuart Rea in the sum of £46,183.74;
- Ryan Parker in the sum of £345,775.52;
- Jeannine Lewis in the sum of £105,538.00, and
- Hugh Edwards in the nominal sum of £1 (given he has no available assets to meet any order).
The court also ordered these amounts be paid as compensation to the victims of the illegal investment scheme.
The FCA has carried out extensive inquiries to identify all victims and has been in contact with all except approximately 20 individuals. The regulator is now making a final call for the remaining victims to come forward.
If investors have not been contacted about the scheme by the FCA already and bought shares issued in one or more of the following names – Pearl Island International LLC; Paragon Private Wealth LLC; Berkeley Brookes LLC; Atlantic Equity LLC – they should contact the FCA with details of their investment as soon as possible by 16 July 2021.
The FCA can be contacted in the following ways:
- emailing: Tidworth.info@fca.org.uk
- calling: Freephone 0800 111 6768 or 0300 500 8082
- writing to: Financial Conduct Authority, Unauthorised Business Department, Operation Tidworth Case Team, 12 Endeavour Square, London E20 1JN