Following an investigation by the Financial Conduct Authority, Michael Nascimento (born: 28/06/1977); Hugh Edwards (born: 13/07/1982); Stuart Rea (born: 12/02/1968); Ryan Parker (previously known as Ryan Sell, born 26/11/1992) and Jeannine Lewis (born: 15/09/1967), all of whom live in London and the South East, appeared today before Southwark Crown Court.
They have been charged with conspiracy to defraud, together with offences under the Financial Services and Markets Act 2000 and the Fraud Act 2006. Two of the five are also charged with perverting the course of justice contrary to the common law and one has been charged with money laundering offences contrary to the Proceeds of Crime Act 2002.
The offences relate to the promotion and sale of shares in Atlantic Equity LLC (formerly known as Berkeley Brookes LLC), between July 2013 and March 2014, through a succession of four alleged ‘boiler room’ companies called First Capital Wealth Limited, Bishops of Mayfair Limited, Wallberg Dillion Reid Limited and Sterling Capital Corporation Limited, all of which traded from Docklands, London.
The FCA alleges the defendants were involved in the promotion of investment schemes that offered investors interests in a purported commercial development in Madeira in which, in total, 175 investors may have lost approximately £2.75 million.
Following today’s hearing a trial has been set for 4 September 2017.