Three ordered by High Court to pay £115 million to UK FSA

FSA headquarters

LONDON – A judgement by the UK High Court has ordered three men to pay £115 million to the Financial Services Authority (FSA) for accepting deposits without authorisation.

The payment represents the total amount of money owed by John Anderson, Kenneth Peacock and Kautilya Nandan Pruthi to clients in November 2008, when the FSA froze all activity at Business Consulting International, a firm run by one of the men.

The men were reportedly using the deposits they obtained to run a Ponzi scheme, in

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: