The regulator has taken action against Bright Managment (sic) Solution Limited, Soccer League International Limited, Soccer League UK Limited and senior individuals at these firms.
The watchdog alleges that the defendants have been carrying on ‘unauthorised deposit taking’ by accepting money from the public for different projects, including forex trading and crypto-assets.
The regulator has secured an interim injunction, by consent, stopping these activities from continuing and freezing up to £1.3 million in assets, pending further hearing.
The FCA also alleges that Soccer League International and Soccer League UK, Mr Mohammed Zakir Hussain, Mr Mohammed Kabir, Mr Mohammed Abdul Kahhar and Mr Kayes Miah, who held senior positions at the companies, were each knowingly concerned in Bright’s contraventions.
A further hearing will take place as soon as the court is able to hear the matter, when the FCA will seek to keep the freezing order in place until further order of the Court or the end of the action.
The FCA is seeking a declaration from the court that the defendants’ actions amounted to unauthorised deposit taking as well as an order preventing them from carrying out this activity in the future. The FCA will also seek a restitution order to return frozen funds to consumers who were affected by these alleged breaches.