A man has been sentenced to prison for his role in an unauthorised collective investment scheme through three land banking companies.
Adam Hawkins was sentenced to six years and nine months in jail at Southwark Crown Court today following the FCA’s Operation Cotton investigation into the scheme in which 110 investors lost £4.3m.
Hawkins worked as a salesman and was involved in the management of the three land banking companies Plott UK, European Property Investments (UK) and Stirling Alexander.
His sentencing follows sentences of up to eight years imprisonment handed down in earlier hearings against seven other defendants as part of the same investigation: Scott Crawley, Dale Walker, Daniel Forsyth, Brendan Daley, Aaron Petrou, Ross Peters, and Ricky Mitchie.
FCA acting director of enforcement and market oversight Georgina Philippou says: “This investigation and prosecution by the FCA has led to immediate custodial sentences for eight people totalling 32 years and nine months, showing how seriously the courts view this kind of offending.
“This prosecution demonstrates that we will not shy away from taking firm and decisive action to protect consumers and the integrity of the financial services industry, as well as holding individuals and companies to account for illegal investment activities.”