Fraudulent Investment Schemes
I have worked on several cases involving claims of investment fraud, both for the Crown and acting for defendants.
In addition to the counts for fraud itself, the Crown makes a case that Section 19 of the Financial Services and Markets Act 2000 (FSMA), known as the
“General Prohibition” has been breached. This is the core rule:
A person must not carry on a regulated activity in the UK unless:
They are authorised by the FCA or PRA, or
They are exempt (e.g. an appointed representative).
The analysis becomes, was authorisation required, did it exist, or were there exemptions? What kind of investment scheme was it (Collective Investment Scheme?) Was the defendant acting by way of business.
I have been involved with many such cases. Lawyers: do you need my help?