The UK's Financial Conduct Authority (FCA) is set to return more than £3.4m to victims of a series of unauthorised deposit taking and collective investment schemes. Between 2015 and 2017 Digital Wealth and Outsourcing Express, which was also known as Kerchiing, is alleged to have been involved in the online purchase of wholesale goods from China for onward sale and promising unrealistically high returns, in some cases up to 100% of the amount invested. In reality, no significant trading was conducted and the schemes relied on a continuous flow of new investors to fund existing investo...
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