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Director disqualified for ‘alternative scams’ 23 September 2016

A company director has been banned for 15 years for investment scams which caused losses of £13m to customers.

Ian Hamilton was the director of Industry RE Ltd (IRE) and operated a number of alternative investment scams between 2009 and 2013.

The scams included a money circulation scheme and the selling of interest in land in Dominica that the company never owned.

A hearing at the high court followed an investigation by the official receiver at the public interest unit – a specialist team of the Insolvency Service.

The official receiver’s involvement started with the winding up of the company by HMRC.

The investigation found that £13.3m of losses were caused to its customers by Hamilton’s company cold-calling people to sell the alternative investments.

Tony Hanon, official receiver at the public interest unit, said: “The company persuaded members of the public to part with substantial sums by falsely promising investors extremely high rates of return.

“As is so often the case, if an investment scheme appears too good to be true, it probably is.”

 

 

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