FCA secures bankruptcy of 3 individuals involved in an unauthorised share scheme

On 6 May 2020, following a trial, the High Court ordered the payment of nearly £3.62 million in restitution to members of the public who bought shares that were promoted unlawfully.

The defendants (Lee Skinner, Tyrone Miller, Clive Mongelard and Karen Ferreira) failed to satisfy this order. Subsequently, the FCA made applications to the court to petition for the bankruptcy of 3 of the defendants and bankruptcy orders were made against:

  • Lee Skinner on 4 February 2021
  • Tyrone Miller on 23 March 2021
  • Clive Mongelard (aka Clive Harris) on 6 April 2021

The Official Receiver (or a Trustee in Bankruptcy) will investigate the financial affairs of the bankrupts and administer their estates.

The fourth defendant, Karen Ferreira, has made an application to appeal the Judgment against her. Enforcement of this Judgment has been suspended pending the Court of Appeals’ decision.

https://www.fca.org.uk/news/news-stories/fca-secures-bankruptcy-individuals-unauthorised-share-scheme

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