Ponzi Scheme investing4you.co.uk scam forex investment

[InspectorGadget]

He's said hes not doing it any more (sad face)
So literally no other smoking gun than not being registered

I'm just amazed at how naive some people really are even when shown evidence and facts. He clearly was aware that he needed to be FCA registered otherwise he wouldn't need to deceive his clients/investors to thinking he was.

 

[hoodledudle]

I'm just amazed at how naive some people really are even when shown evidence and facts. He clearly was aware that he needed to be FCA registered otherwise he wouldn't need to deceive his clients/investors to thinking he was.

It gets worse and worse.

 

[Ihatelies]

I'm just amazed at how naive some people really are even when shown evidence and facts. He clearly was aware that he needed to be FCA registered otherwise he wouldn't need to deceive his clients/investors to thinking he was.

Where clients deceived into thinking he was? I know Mike Fair challenged him and he responded.
But other than that where clients deceived?

 

[MikeFair]

He's said hes not doing it any more (sad face)
So literally no other smoking gun than not being registered

The smoking gun for not being authorized is literally a headshot - nothing else is needed.

The thing that really does not help is the claims to be FCA authorized/registered, claiming he has to operate for 1 year before being authorized, claiming it being processed, clients claiming they have to see FCA documentation that attests to him being authorized, clients producing letters from the FCA (which the FCA have not sent).

There as some very very murky waters which have become apparent when talking to clients of Investing4You/Declan.

Take for example this recent case.

Unauthorised financial adviser pleads guilty to £1.9m client fraud

UPDATE: Today (26 July) at Southwark Crown Court, Judge Tomlinson sentenced Ian James Hudson to four years' imprisonment for one count of fraudulent trading, with two additional terms of 14 months, each reflecting a breach of s19 FMSA, to run concurrently following his earlier guilty plea. The...

www.internationalinvestment.net

The person there was jailed there for two terms of 14 months each for a breach of S19 FMSA. Of course, every case is different and has its own merits but use it as an example on the person being jailed only for the S19 FMSA breach.

What is S19 FMSA? - As below its carrying on a regulated activity when not authorized or exempt

Financial Services and Markets Act 2000

An Act to make provision about the regulation of financial services and markets; to provide for the transfer of certain statutory functions relating to building societies, friendly societies, industrial and provident societies and certain other mutual societies; and for connected purposes.

www.legislation.gov.uk

e.g - Exactly what Declan has been/is doing.


Although a case of different merit and detail a Judge in the recent high court case of Jackson v Ayles and another [2021] EWHC 995 (Ch) (23 April 2021) is quoted saying the following which I believe is quite relevant.

"People who carry on regulated activity and are ignorant of the law, even if reasonably so, should be more at risk because they are more of a danger to the public."​

 

[Ihatelies]

It gets worse and worse.

Well said Chris Hawley

 

[Joshthedog]

He's said hes not doing it any more (sad face)
So literally no other smoking gun than not being registered

.... assuming of course that all those "funds" so neatly presented on the App are sat in a frozen bank account, just waiting for the FCA to release them so they can be re-distributed with a "sorry for any inconvenience" and "thanks for your business" signing off email.

 

[Scun101]

He's said hes not doing it any more (sad face)
So literally no other smoking gun than not being registered

You make my head hurt. Surely you can’t believe the things you are saying

 

[Ihatelies]

You make my head hurt. Surely you can’t believe the things you are saying

I sure do. Everything is circumstantial at best. Unmerited accusations

 

[Jump2]

You make my head hurt. Surely you can’t believe the things you are saying

Some people are beyond help I'm afraid

 

[MikeFair]

Where clients deceived into thinking he was? I know Mike Fair challenged him and he responded.
But other than that where clients deceived?

"Where clients deceived into thinking he was?" - Yes. Many have said they have seen relevant documentation. Which we all know could not be legitimate documentation as Investing4You / Declan was not authorized by the FCA.

"I know Mike Fair challenged him and he responded." - The response was Declan accused me of slander and that I was "not aware how that works". Georgia claimed my querying of the FCA status was "irrelevant".

"But other than that where clients deceived?" - Yes. Declan has on many times made a statement only for it not to be true. For example, an email was apparently sent to all clients. Declan claimed, "the companys' Paypal, trading platform and bank account has been suspended by the FCA".

When it has been confirmed now multiple times that the FCA did not in fact take this action.