Hands Off Lodore Clone, Says TONY HETHERINGTON

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Forger who helped hide the proceeds of a multi-million pound investment scam has been sentenced to 28 months in prison, though no prosecution has been brought against those the Financial Conduct Authority has named as being involved in the scam itself.

Stephen Allen has pleaded guilty to falsifying an act that concealed beneficial ownership of a stake in a London property.

The real owner was Renwick Haddow, one of seven people identified by the FCA as being behind a series of unauthorized investment programs operating under the title African Land or Agri Capital.

I warned in 2010 that Agri Capital’s plan to invest in rice fields, with the promise of 50% capital gains in the first year, was both illegal and backed by bogus guarantees. Three years later, in 2013, the FCA took legal action to freeze the program and recover money from investors.

One of the ringleaders, Robert McKendrick, attempted to embezzle funds on his wife’s behalf and in 2019 he was jailed for contempt of court. Now Stephen Allen has followed him, for hiding Renwick Haddow’s ownership of a London property worth over £ 1million. Mark Steward, FCA Chief Enforcement Officer, said: “This is a serious facilitation offense. The FCA will prosecute those who facilitate financial crime as well as major offenders.

However, the FCA itself named the main perpetrators of the Agri Capital scam like Marcia Hargus, Richard Henstock, Alan Meadowcroft, Mark Ayres, Mark Gibbs and of course Haddow and McKendrick – but none of them did. was continued.

The only lawsuits were brought against the two men involved in the concealment of ill-gotten property.

An FCA spokesperson explained that prosecuting people who lead unauthorized investment scams “can turn into a very technical case.” He added that the watchdog had “prioritized actions that could help victims recover money.”

The defendants were ordered to return £ 18.7million for the benefit of their victims. So far the FCA has received just £ 580,000, leaving over £ 18million without news and not a single criminal conviction. Who says crime doesn’t pay off! And when will MPs realize that the CFA is just not up to the task?


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