Bio-fuels collective investment schemes get winding up order
Britain’s Financial Services Authority (FSA) regulator has secured winding up orders against two unauthorised companies operating a bio-fuels collective investment scheme, the FSA said.
The regulator said it had obtained the High Court winding-up orders against Bio Partners Limited and Zambia Alpha One LLP.
It said the two companies operated a collective investment scheme which invested funds in the farming of a bio-fuel crop in Africa but neither had been authorised by the FSA to do so.
The scheme took in almost 1 million pounds ($1,58 million) from UK investors.