A UK man who operated an unauthorised collective investment scheme will appear in court next month after being charged with seven offences including forgery and fraud.
The FSA said Ben Wilson, who traded as SureInvestment in Bournemouth, Dorset, operated a scheme that purported to carry out futures trading for the benefit of its investors.
The charges follow searches of two premises in Poole owned or controlled by Wilson that were conducted by the FSA and Dorset Police which resulted in his arrest in June 2011.
He has now been charged with operating a collective investment scheme without authorisation; two counts of making false, misleading or deceptive statements; two counts of forgery; using a false instrument and fraud.
Wilson has been bailed to appear at City of London magistrates court on 05 October.
The FSA had already fined Wilson £11m last November for a similar venture, Weymouth Securities, but the first instalment of £3.9 million was paid late and the others were not paid at all.
Before it was shut down by the High Court last November, SureInvestment claimed on its website that it specialised in ‘high yield returns in global financial markets’.