Four guilty in relation to £1.4 million investment scheme

[Legal Beagles]

In a criminal prosecution brought by the Financial Conduct Authority (FCA), Samrat Bhandari and Dr Muhammad Aleem Mirza have been found guilty for their roles in operating an investment scheme which led to more than 300 investors losing a total of just over £1.4 million.

https://www.fca.org.uk/news/press-re...estment-scheme

On 5 May 2017 Michael Moore and Paul Moore pleaded guilty to Count 1 (creating a false impression, contrary to section 397(3) of the Financial Services and Markets Act 2000 (FSMA)) and Count 2 (carrying on a regulated activity without authorisation, contrary to sections 19 and 23 FSMA); Michael Moore additionally pleaded guilty to Count 4 (creating a false or misleading impression, contrary to section 90 Financial Service Act 2012). Count 3 (contravening the restrictions on financial promotions, contrary to sections 21 and 25 FSMA) was ordered to lie on the file.