69-year-old investment scammer Stephen Allen yesterday pleaded guilty in a forgery case brought against him by the Financial Conduct Authority. The case against him related to proceedings brought against Renwick Haddow in 2018 by the FCA over several unauthorised collective investment schemes.
Discover the UK's leading investment platforms, whatever your investment goals. Click on a provider below to get started!
Following the successful judgment against Haddow and several others, the High Court ordered them to pay nearly £17 million in restitution. This included the sale of assets such as property, which should have been sold to help fulfil the payment to victims of the scam as ordered by the High Court.
However, Stephen Allen then forged a trust deed for a property in which Haddon had an interest. Allen did this to avoid selling the property to put the money toward restitution for their scam victims. It has since emerged the property in question has now been sold and the funds distributed to the victims of the schemes.
After pleading guilty to forgery today at Southwark Crown Court, Allen will be sentenced on 24th September.
Meanwhile, Haddow is awaiting sentencing in the United States, having pleaded guilty to a separate case of fraud prosecuted by the U.S. Department of Justice.