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The FCA has charged Bruce Rowan, David Simmons, Robert Sweeney and Justin Russell with a number of counts of conspiracy to commit fraud by false illustration after they allegedly ran an unauthorised funding scheme accused of defrauding buyers out of £3.9m.
Robert Sweeney and David Simmons have additionally been charged with cash laundering.
The FCA alleged that between 1 Might 2015 and 23 July 2019 the defendants conspired to defraud buyers by way of two corporations, Hanover Service provider Capital UK Ltd and Liberty Home Capital Ltd.
The 2 corporations have been accused of deceptive UK buyers that their cash would fund water extraction and bottled water manufacturing and concerning the returns they may anticipate.
The defendants are set seem earlier than the Westminster Magistrates’ Courtroom on 3 April.
The alleged deceptive representations embody:
- Hanover Service provider Capital UK Restricted and Liberty Home Capital Ltd have been well-established funding corporations with everlasting London-based workplaces, and a part of a global growth group, and/or;
- Capital raised from buyers can be paid in direction of the prices of, or in any other case invested in, a real water extraction and bottled water manufacturing and/or;
- Capital raised from buyers can be insured by a legitimate type of insurance coverage, and/or;
- Buyers would obtain common annuities and returns generated by the capital they offered.
In September 2019 the FCA warned that Hanover Service provider Capital UK Ltd of Berkeley Sq., London was an unauthorised agency. Corporations Home information present that the agency was put into obligatory liquidation in November 2018.
Additionally in September 2019 the FCA warned that Liberty Home Capital Ltd of Pall Mall, London was an unauthorised agency. Corporations Home information present that the corporate was dissolved in Might 2023.
Based on Corporations Home information Bruce Rowan, 64, is resident in Eire; David Simmons 51 is a UK resident; Robert Sweeney, 52, is resident in Spain and Justin Russell, 53, is a British nationwide.
Conspiracy to commit fraud by false illustration is an offence underneath part 2 of the Fraud Act 2006 and part 1(1) of the Felony Regulation Act 1977 punishable on indictment by a positive and/or as much as 10 years’ imprisonment.
Cash laundering is an offence underneath part 327 of the Proceeds of Crime Act 2002 and is punishable on indictment by a positive and/or as much as 14 years’ imprisonment.
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