FCA freezes assets of 'scam' property fund

The regulator has frozen the assets of a property fund that it suspects is an elaborate scam.

Brookbourne Trading Limited of 288 Bishopsgate, London, claims on its website: "We operate with the business ethos that change can cause vast improvement if you listen to what is required." However, the regulator suspects that Brookbourne is operating a scam property fund and has been accepting deposits from consumers without FCA authorisation. The regulator has now been granted an injunction by the High Court to prevent Brookbourne from taking anymore deposits and freeze its assets. But the FCA has warned investors in Brookbourne that even with the injunction in place, they may no...