Documented Case

Bespoke Markets Group

A purportedly London-based company sold 'all-or-nothing' investment products by cold-calling. The FCA documented approximately £1.2m of losses across around 120 investors, and three individuals were sentenced to a combined 24 and a half years.

Investment type: 'All-or-nothing' investment products, including cryptoasset offers
Documented investor losses: Approximately £1.2m lost by around 120 investors (FCA)
Date / period: June 2016 to January 2020; convictions and sentencing 2023
Relevant organisation: Financial Conduct Authority / Southwark Crown Court
Nature of the matter: Criminal prosecution — investment fraud and unauthorised activity

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Background

Bespoke Markets Group presented itself as a London-based investment company operating between June 2016 and January 2020.

In reality it functioned as a boiler room: the corporate presentation existed to support high-pressure telephone sales rather than any genuine investment operation.

What investors were promised

Investors were offered 'all-or-nothing' investment products marketed as high-return opportunities.

Sales were made by unsolicited telephone calls using sustained pressure to secure payment.

How the scheme operated

Investors were cold-called and persuaded to transfer funds for products with no legitimate underlying investment activity. Regulated activity was carried on without the necessary FCA authorisation.

What happened to investors

The FCA documented approximately 120 UK investors and losses of approximately £1.2m of investors' savings.

Prosecution and court outcome

Following an eight-week trial concluding in April 2023, Cameron Vickers, Raheel Mirza and Opeyemi Solaja were convicted and sentenced to a combined 24 and a half years' imprisonment.

A further defendant, Reuben Akpojaro, was convicted of carrying on regulated activity without FCA authorisation. The FCA subsequently pursued confiscation proceedings and recovered sums from those convicted.

What the case demonstrates

The case illustrates the scale a boiler-room operation can reach when left unchallenged over several years, and the distinction the courts draw between those who commit the fraud and those who facilitate it through unauthorised trading.

It also shows that confiscation proceedings following conviction can form part of the wider recovery picture for affected investors.

Key Lesson

A prestigious London address in marketing material tells an investor nothing about whether a firm is genuine or authorised.

Source & Further Information

Three individuals convicted and sentenced to a combined 24 and a half years for 'all-or-nothing' investment fraud
Financial Conduct Authority — published Updated 22 May 2023
View the official source

These case studies summarise matters recorded in public sources including FCA publications, Insolvency Service and Serious Fraud Office material on GOV.UK, court judgments and the Companies House register. They are provided for information only, are not legal advice, and do not describe work carried out by BJM Recovery Ltd for any client. Where an investigation or set of proceedings remains open, the position stated is the position recorded at the date of the cited source.

BJM Recovery Ltd

How We Approach Investment Loss Cases

Every investment recovery matter is assessed individually. The circumstances of the investment, the available evidence, the parties involved and the applicable recovery process will determine the appropriate course of action.

Our starting point in any matter is the documentation. We reconstruct the investment chronologically from agreements, payment records, statements, correspondence and marketing material, and we establish precisely which entities and individuals were involved at each stage, and in what capacity.

We then examine what is on the public record: the Companies House position, any insolvency appointments, regulatory publications, enforcement action and court proceedings. Public records frequently determine which routes remain open, whether that is a creditor claim in an insolvency, a claim against a regulated party in the advice or pension chain, participation in a distribution administered by a regulator, or civil proceedings.

Where a matter has been formally referred to us, we deal with the referring organisation directly and work within the process that applies to that referral.

If you have lost money through an investment that has failed, become insolvent or stopped communicating, we can review the information available and set out the position clearly.

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Have you experienced something similar?

Investment losses can be complex and every situation is different. If you have lost money through an investment that has failed, become insolvent or stopped communicating, our team can assess the information available and discuss the potential next steps.

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