The UK financial services watchdog, the Financial Conduct Authority (FCA) has had a £1m enforcement order against an unauthorised investment scheme - that promised 6% returns, but instead funded its founder's lavish lifestyle - upheld by the High Court. Following an application by the FCA, the UK's High Court, on 14 May 2019, declared that Xcore Capital Limited (Xcore) and Jonathan Chitty had carried on an unauthorised investment scheme. The scheme took in at least £1 million from investors but only a small amount of the investors' money was ever used for trading. Consumers gave mone...
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