FCA has started High Court proceedings against Argento Wealth Limited and its sole director, Daniel Willis. It alleges the firm unlawfully took around £2.8m as deposits under loan agreements and/or as part of an unauthorised CIS, unlawfully arranged investments of around $9m and breached financial promotion restrictions. It has obtained undertakings equivalent to interim orders to freeze assets, with a view to getting final orders that will compensate around 13 lenders and many other persons harmed by the behaviour.
