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FCA Sues Soccer Leagues for Taking Investments to Buy Cryptocurrencies
FCA Sues Soccer Leagues for Taking Investments to Buy Cryptocurrencies

Who Would Use A Soccer League to Invest Anyways?

 

The world of investments and finance can be full of vultures and scammers at times. Seeing the semi-anonymity that Bitcoin and cryptocurrencies offer, it is easy to see why the cryptocurrency world is attractive to bad actors. Scams and hoaxes can take many different forms. This includes common phishing scams, multi-level-marketing ponzi style scams, and sometimes unlicensed "trading experts" that end up not being credible.

It seems that one of these stranger "trading experts" have recently gotten the attention of Britain's FCA.

 

Soccer Leagues Sued by FCA

As reported in Law360,  the FCA has taken action against a few soccer leagues for accepting investments from individuals without authorization. Apparently, these companies were accepting investments from individuals that would be used for the purchase and trading of cryptocurrencies. The companies involved are Bright Management Solution Limited, Soccer League International, and Soccer League UK.

The companies as well as senior individuals involved have had proceedings filed against them. Currently the FCA is seeking to return all funds back to their original investors.

An FCA representative said:  "The FCA is seeking a declaration from the court that the defendants' actions amounted to unauthorized deposit taking as well as an order preventing them from carrying out this activity in the future.

"The FCA will also seek a restitution order to return frozen funds to consumers who were affected by these alleged breaches."

 

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Written by Jonathan Ganor

Writer & cryptocurrency aficionado

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