Crime Solicitors

A London diamond investment company which also sold other commodities has been ordered into liquidation, on the grounds of public interest.

A petition presented by the Secretary of State for Business, Innovation & Skills to wind up Heritage FA Limited, following an investigation by Company Investigations – part of the Insolvency Service – under Section 447 of the Companies Act 1985, as amended.

The investigation found that vulnerable and elderly individuals were being targeted and aggressively sold investments in fancy coloured diamonds, rough diamonds, gold, fine art and oil wells.

The company’s sales team was located in prestigious office accommodation at 25 Canada Square in Canary Wharf.

The company claimed that its services “represent excellent value” – and that for diamond trades, it charged investors a “1.5% arrangement commission”.

The investigation discovered that at least £7 million was raised from investors generating commission of more than £2.5m before the company was forcibly closed by the Insolvency Service’s intervention.

Chris Mayhew, Company Investigations Supervisor, said:

“This company promised safe and spectacular investment returns, but simply delivered a hole in the pocket for investors.

“There’s only one thing to do with these bogus investment schemes – put them straight in the bin.”

Duncan Lewis Business Crime Solicitors

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