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FCA starts legal proceedings in £23m housing investment scheme

Local Housing with multiple levels
Scheme involved houses that were being let to social tenants by local councils. Photo: Matt Cardy/ Getty Images

Hameed Shuja

1 min read
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The FCA alleges that promoters did not have authorisation to sell or promote the scheme, and that it was not backed by the government.

The UK’s FCA has announced it has started legal proceedings against a number of firms and individuals in an “alleged unauthorised investment scheme involving consumer investments of more than £23 million ($30.62 million) in static homes.”

The collective action is being taken against “Concept Capital Group (CCG), Ian Anthony Elliott, Adrian Felix,

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