Four individuals charged by FCA in £3.9 million unauthorized investment scheme fraud case

The Financial Conduct Authority (FCA), a financial regulatory body in the United Kingdom, has charged four individuals with multiple counts of fraud and money laundering in connection with an unauthorised investment scheme. The individuals named are Bruce Rowan, David Simmons, Robert Sweeney, and Justin Russell.

According to the FCA, between May 2015 and July 2019, the four defendants conspired to defraud investors out of £3.9 million through two companies: Hanover Merchant Capital UK Ltd and Liberty House Capital Ltd. The defendants allegedly misled UK investors by claiming that their investments would be used to fund water extraction and bottled water production. They also falsely promised high returns on these investments.

The FCA further alleges that the defendants engaged in money laundering activities as part of their fraudulent scheme. This means they may have attempted to hide or disguise the source of their ill-gotten gains.The accused individuals will appear before the Westminster Magistrates' Court on 3 April 2024 to face charges. If found guilty, they could face severe penalties and potential jail time. The FCA is actively investigating this case and urging anyone who may have been a victim of this scam to come forward.Investors should always exercise caution when considering any investment opportunity and ensure that the company offering the investment is authorised by the FCA. This case serves as a reminder to be vigilant and do thorough research before making any financial decisions.