Shojin Financial Services enters administration

FCA-regulated Shojin Financial Services entered administration on 23 March and has appointed Simon Carvill-Biggs and Ian Corfield of FRP Trading Advisory as joint administrators.

Shojin, which describes itself as a property investment platform 'sharing opportunities for global investors to gain exceptional returns', is a crowdfunding platform that allowed customers to make investments that were used to fund loans toward property developments.

The FCA said investors – while not always classed as creditors – should benefit if the joint administrators can recover as much value as possible from the property development companies involved.

The regulator is engaging with both the firm and the joint administrators to seek to ensure the best outcomes for investors.