FCA bans six for UCIS fraud

All convicted last year

The Financial Conduct Authority (FCA) has banned six individuals from regulated financial services a year after they were convicted of a £4.3m fraud that trapped 100 investors.

The regulator banned Scott Crawley, Daniel Forsyth, Adam Hawkins, Ross Peters, Aaron Petrou and Dale Walker from performing any function in relation to a regulated activity for their parts in the operation of an unauthorised collective investment scheme (UCIS). It did not, however, move to ban two other individuals involved in the fraud -Brendan Daley and Ricky Ritchie. The men had sold fraudulent investments to 100 investors between July 2008 and November 2011, leading to losses of £4.3m. They were sold through three land-banking schemes: Plott Investments, later Plott UK; Europea...