The FCA has recovered £2.5 million from the elimination of a related Panamanian company
The UK financial regulator helped land banking victims. Source: shutterstock.com
The Financial Conduct Authority (FCA) obtained approval from the High Court to return £2.5 million in compensation to victims of a series of unauthorized collective investment schemes.
Between 2005 and 2010, nearly 800 people invested approximately £32.8m in unauthorized collective investment schemes. They were established and operated by Countrywide Land Holdings Limited, James Kenneth Maynard (trading as Regional Land and Countrywide Land Holdings) and Stephen Ronald Watkins (trading as Consolidated Land UK). The schemes involved the illegal selling of plots of land.
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