The Financial Conduct Authority (FCA)
has charged Bruce Rowan, David Simmons, Robert Sweeney and Justin
Russell with multiple counts of conspiracy to commit fraud by
false representation. Robert Sweeney and David Simmons are also
charged with money laundering.
The four individuals allegedly ran an
unauthorised investment scheme, which defrauded investors out of
£3.9 million.
The FCA alleges that between 1 May
2015 and 23 July 2019, the defendants conspired to defraud via
two companies, Hanover Merchant Capital UK Ltd and Liberty House
Capital Ltd, by misleading UK investors that their money would
fund water extraction and bottled water production and about the
returns they could expect.
The defendants will appear before the
Westminster Magistrates’ Court on 3 April
2024.
Notes to
editors
-
Bruce Rowan's date of birth is 18
April 1959, David Simmons' date of birth is 21 April 1972,
Robert Sweeney's date of birth is 14 March 1972 and Justin
Russell’s date of birth is 3 August
1970.
-
The alleged misleading
representations include:
-
Hanover Merchant Capital UK
Limited and Liberty House Capital Ltd were well-established
investment companies with permanent London-based offices,
and part of an international development group,
and/or;
-
Capital raised from investors
would be paid towards the costs of, or otherwise invested
in, a genuine water extraction and bottled water production
and/or;
-
Capital raised from investors
would be insured by a valid form of insurance,
and/or;
-
Investors would receive regular
annuities and returns generated by the capital they
provided.
3. Conspiracy to commit fraud by false
representation is an offence under section 2 of the Fraud Act
2006 and section 1(1) of the Criminal Law Act 1977 punishable on
indictment by a fine and/or up to 10 years’
imprisonment.
4. Money laundering is an offence
under section 327 of the Proceeds of Crime Act 2002 and is
punishable on indictment by a fine and/or up to 14 years’
imprisonment.
