Have a question?
033 3772 0409

Legal News

14-year disqualification for selling Rare Earth Metals to public (29 March 2016)

Date: 29/03/2016
Duncan Lewis, Legal News Solicitors, 14-year disqualification for selling Rare Earth Metals to public

The director of a company which sold alternative investments has been disqualified for 14 years, following an investigation by the Official Receiver at the Public Interest Unit – a specialist team of the Insolvency Service, whose involvement began with the winding up of the company Windward Capital Limited in the public interest.

The Official Receiver’s investigation uncovered that, between 2012 and 2014, the company made sales of approximately £500,000 by cold calling members of the public to sell them Rare Earth Metals (REMs).

However, the REMs sold by Windward to members of the public were unsuitable as an investment, as there was no market for REMs without industry certification and in the quantities sold by NFA.

Charles Amaning – a director of Windward Capital Limited, which traded from 50 Broadway, London SW1 – gave an undertaking to the Secretary of State for Business, Innovation & Skills to be disqualified as a director for a period of 14 years.

The Official Receiver in the Public Interest Unit, Paul Titherington, said:

“Mr Amaning should have known that the Rare Earth Metals the company was selling were wholly unsuitable as an investment – particularly given the absence of a marketplace where investors could sell their Rare Earth Metals.

“The Insolvency Service will pursue delinquent directors who mislead honest members of the public so as to part them from their savings.”

Duncan Lewis Business Crime Solicitors

Duncan Lewis business crime solicitors can advise at any stage of a charge involving misrepresentation, company fraud, financial fraud, false accounting, Ponzi schemes and investment fraud.

There are Duncan Lewis offices nationwide and a Duncan Lewis business crime solicitor can attend interviews with investigating authorities such as SFO, FCA. Insolvency Service, BIS, HMRC and City of London Police.

For expert legal advice on all business offences, call Duncan Lewis business crime solicitors on 0333 772 0409.

Call us now on 033 3772 0409 or click here to send online enquiry.
Duncan Lewis is the trading name of Duncan Lewis (Solicitors) Limited. Registered Office is Spencer House, 29 Grove Hill Road, Harrow, HA1 3BN. Company Reg. No. 3718422. VAT Reg. No. 718729013. A list of the company's Directors is displayed at the registered offices address. Authorised and Regulated by the Solicitors Regulation Authority . Offices all across London and in major cities in the UK. ©Duncan Lewis >>Legal Disclaimer, Copyright & Privacy Policy. Duncan Lewis do not accept service by email.