The UK FCA has secured two court orders to return over £130,000 to victims of an unauthorized investment scheme operated by Synergy Land Group Limited between late 2009 and May 2011. Members of the public invested approximately £2.8 million. The FCA has recovered approximately £27,000 after the company’s director Samuel Exall was ordered to sell assets. In October 2016, Exall was convicted and sentenced to 4 years in prison.
Anyone who invested in the Synergy scheme and has not been in contact with the FCA or been notified by the regulator that a payment will be made to them should contact them by 17 July 2023 at [email protected].
Separately, the FCA has also secured permission from the Court to distribute funds obtained from Mohammed Maricar, sole director of 24HR Trading Academy Ltd, which provided unlawful contracts for difference (CFDs) forex trading promotions. In September 2022, the FCA received a payment of £106,650.58 from the Official Receiver, who was appointed over Maricar’s bankruptcy estate. The sum will now be distributed among investors.
The FCA has taken an approach to ensure as much money is recovered for investors as possible. With this process now complete, the FCA does not expect further funds to be recovered.