FCA wins collective investment Ponzi scheme case where investors were promised 8%pa

The High Court has found in favour of the Financial Conduct Authority in a case involving a £57 million Ponzi-like care home investment scheme relating to 13 residential homes in the northeast.

By Neasa MacErlean

The Court is now deciding the sums that the three defendants must pay back to the 380 investors in the homes run by Qualia Care Ltd.