Man jailed after failing to comply with FSA court order
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The High Court in Northern Ireland has sentenced a man to 18 months in prison over a failure to comply with an FSA court order requiring details of where assets were held.
Francois de Dietrich has been committed to an 18 month prison sentence after he failed to comply with statutory information requests from the regulator.
Prior to the ruling the FSA obtained a High Court order restraining any potential unauthorised activity and freezing £20,223,485 worth of assets of Francois de Dietrich and ETIC Solutions Ltd.
Francois de Dietrich and ETIC are believed to be behind an illegal investment scheme.
The FSA says it took action as schemes of this sort frequently result in people losing all of their money.
The order by the High Court in Northern Ireland allows the FSA to preserve the funds and other assets held by de Dietrich and/ or ETIC until the court decides whether he has broken the law.
The court will also decide how much money, if any, should be returned to investors and other creditors.
Meanwhile, the FSA is continuing its investigation into the activities of de Dietrich and ETIC.
The FSA says any investors in this scheme should contact the regulator’s contact centre on 0845 606 1234.
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