The Financial Conduct Authority has received court authorisation to collect £1.6m from Argento Wealth (AWL) and its sole director Daniel Willis for the promotion of unlawful investment schemes.
In a statement from the regulator today (4 April), it said the High Court had approved a consent order to return money to investors in the unlawful schemes. Previously, the FCA commenced civil proceedings against AWL and Willis on 1 June 2022 to recover investor funds from the alleged unlawful activity, and the assets of AWL and Willis were frozen in the meantime. FCA warns firms and finfluencers to 'keep social media ads lawful' The financial watchdog alleged that AWL unlawfully took about £2.8m as deposits under loan agreements and/or as part of an unauthorised collective investm...
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