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

Mark Sands
01 Aug 2010

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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

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