The FCA has charged five individuals with alleged investment fraud. The individuals appeared at Southwark Crown Court charged with conspiracy to defraud with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006.

1. Two of the individuals are charged in addition with perverting the course of justice contrary to the common law and
2. one charged with money laundering offences contrary to the Proceeds of Crime Act 2002.

Between July 2013 and March 2014 the FCA alleges that the defendants engaged in the promotion and sale of shares in Atlantic Equity LLC (formerly known as Berkeley Brookes LLC) through four alleged “boiler room” companies, offering investment schemes in a purported commercial development in Madeira in which, in total, 175 investors may have lost approximately £2.75 million.

The trial date has been set for 4 September 2017.

A copy of the FCA press release is available HERE