Financial Conduct Authority
Printable version

FCA charge five in alleged investment fraud

Following an investigation by the Financial Conduct Authority Michael Nascimento (DOB: 28/06/1977); Hugh Edwards (DOB: 13/07/1982); Stuart Rea (DOB: 12/02/1968); Ryan Parker (previously known as Ryan Sell DOB 26/11/1992) and Jeannine Lewis (DOB: 15/09/1967), all of whom live in London and the South East, appeared yesterday before Southwark Crown Court charged with conspiracy to defraud, together with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006. Two of the five are also charged with perverting the course of justice contrary to the common law and one has been charged with money laundering offences contrary to the Proceeds of Crime Act 2002.

The offences relate to the promotion and sale of shares in Atlantic Equity LLC (formerly known as Berkeley Brookes LLC), between July 2013 and March 2014, through a succession of four alleged ‘boiler room’ companies called  First Capital Wealth Limited, Bishops of Mayfair Limited, Wallberg Dillion Reid Limited and Sterling Capital Corporation Limited, all of which traded from Docklands, London.  The FCA alleges the defendants were involved in the promotion of investment schemes that offered investors interests in a purported commercial development in Madeira in which, in total, 175 investors may have lost approximately £2.75 million.  

Following yesterday’s hearing a trial has been set for 4 September 2017.

The FCA cannot provide any further comment or information at this time.

Notes for editors

  1. On 1 April 2013 the FCA became responsible for the conduct supervision of all regulated financial firms and the prudential supervision of those not supervised by the Prudential Regulation Authority (PRA)
  2. The FCA has an overarching strategic objective of ensuring the relevant markets function well. To support this it has three operational objectives: to secure an appropriate degree of protection for consumers, to protect and enhance the integrity of the UK financial system and to promote effective competition in the interests of consumers
  3. Find out more information about the FCA.

 

Channel website: https://www.fca.org.uk/

Share this article

Latest News from
Financial Conduct Authority

Free, Secure, Compliant UK Public Sector IT Recycling Service