UK court confirms LCF investment firm was a Ponzi scheme, impacting 11,600 investors who lost £237 million.

London Capital & Finance (LCF), an investment firm that collapsed in 2019, has been ruled as a Ponzi scheme by a High Court, affecting 11,600 investors who lost over £237 million. The court found that the company misled investors and misused funds, with some directors using the money for luxury purchases and political donations. The ruling may lead to compensation decisions for affected investors.

November 14, 2024
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