FCA UK announced criminal prosecution in relation to an unauthorised investment scheme
The Financial Conduct Authority (FCA) has issued a press release to inform that has commenced a criminal prosecution against Mark Barry Starling (date of birth: 23/01/1961) of Farnham, Surrey, for three offences relating to unauthorised investment schemes alleged to have been operated between 1 August 2008 and 25 April 2017.
According to FCA’s press release, Mr Starling is alleged to have operated schemes that purported to carry out financial futures trading for the benefit of investors.
The alleged offences are as follows:
- Operating, or purporting to operate, a collective investment scheme without authorisation or exemption, contrary to sections 19 and 23 of the Financial Services and Markets Act 2000.
- Two counts of fraud, contrary to sections 1 and 2 of the Fraud Act 2006.
Mr Starling’s first court appearance was at City of London Magistrates’ Court on 21 August 2018. The case was passed to Southwark Crown Court with the first preliminary hearing scheduled for 18 September 2018.
The FCA cannot provide any further comment or information at this time.
- Investment fraud led to the loss of more than £2.8m of investors’ money
- Individual sentenced to 5 years’ imprisonment for defrauding investors
- FCA charges sixth defendant in alleged investment fraud
- UK Regulator released the names of unauthorised binary options providers
- The conduct regulator of UK warns about Prime FX