The Financial Conduct Authority alleged on 22 March that four individuals ran an unauthorised investment scheme, which defrauded investors out of £3.9m.
The UK regulator charged Bruce Rowan, David Simmons, Robert Sweeney and Justin Russell with multiple counts of conspiracy to commit fraud by false representation. Robert Sweeney and David Simmons are also charged with money laundering.
The four individuals allegedly ran an unauthorised investment scheme, which defrauded investors out of £3.9m.
The FCA alleges that between 1 May 2015 and 23 July 2019, the defendants conspired to defraud via 2 companies, Hanover Merchant Capital UK Ltd and Liberty House Capital Ltd, by misleading UK investors that their money would fund water extraction and bottled water production, and about the returns they could expect.
The defendants will appear before the Westminster Magistrates' Court on 3 April 2024.
