{"id":1683,"date":"2024-05-15T03:00:12","date_gmt":"2024-05-15T03:00:12","guid":{"rendered":"https:\/\/cryptd.in\/uk-crypto-advice-firm-shut-down-after-5m-losses-in-investors-money\/"},"modified":"2024-05-15T03:00:12","modified_gmt":"2024-05-15T03:00:12","slug":"uk-crypto-advice-firm-shut-down-after-5m-losses-in-investors-money","status":"publish","type":"post","link":"https:\/\/cryptd.in\/fr\/uk-crypto-advice-firm-shut-down-after-5m-losses-in-investors-money\/","title":{"rendered":"Une soci\u00e9t\u00e9 britannique de conseil en crypto-monnaies a ferm\u00e9 ses portes apr\u00e8s avoir perdu 5 millions de livres sterling avec l'argent des investisseurs"},"content":{"rendered":"

The UK government\u2019s Insolvency Service has shut down a crypto advisory firm for accounting negligence and the loss of investors\u2019 money. The firm seemingly claimed to help users with investments while promoting crypto schemes that resulted in millions lost.<\/p>\n

False Crypto Expert Company Shut Down<\/h2>\n

On Monday, The UK\u2019s government published<\/a> a press release unveiling a web of lies weaved by Amey Finance Academy Ltd. Amey Finance was \u201can established and successful independent consultancy providing a plethora of financial services.\u201d<\/p>\n

The crypto advice company claimed to run an \u201cindustry-leading education academy\u201d that guides customers through investment opportunities and teaches them about crypto.<\/p>\n

Instead, the company promoted scheme<\/a> projects, resulting in the loss of investors\u2019 money. On April 30, the UK\u2019s Insolvency Services obtained a winding-up order from the High Court in London.<\/p>\n

In 2018, Desmond Amey created Amey Finance Academy to \u201coffer financial advice and education on cryptocurrencies.\u201d Amey was the London-based company\u2019s sole director and shareholder and considered himself a \u201cwealth creation expert.\u201d<\/p>\n

The director assured customers that their crypto investments \u201cwere solid.\u201d However, investors informed authorities that they lost money in the opportunities offered by the firm.<\/p>\n

Despite claiming to have the required licensing from the Financial Conduct Authority (FCA), it was revealed that the company was operating without authorization. In 2022, the FCA inform\u00e9s<\/a> investors that Amey Finance Academy offered financial services and products as an unregistered company.<\/p>\n

According to Mark George, the Insolvency Service\u2019s Chief Investigator, Amey used the company \u201cto recklessly persuade individuals to invest in cryptocurrency schemes and mislead them about the risks of doing so.\u201d<\/p>\n

The Chief Investigator revealed that the firm failed to deliver up-to-date accounts during the investigation. As a result, the Insolvency Services couldn\u2019t establish the full extent of Amey Finance\u2019s activities.<\/p>\n

Despite the lack of transparency, the agency determined that at least \u00a35 million passed through the company\u2019s bank accounts between 2019 and 2022:<\/p>\n

The failure to deliver adequate accounting records and a general lack of transparency shown has prevented the Insolvency Service from establishing the true extent of the company\u2019s activities, its assets and liabilities, or the use of \u00a35 million which passed through the company\u2019s bank account between October 2019 and March 2022.<\/p>\n

\u2018Trust Me Bro\u2019 Director Promotes Schemes<\/h2>\n

According to the press release, Amey misrepresented the investment opportunities he offered. He assured customers their investments would not \u201cdrop below 90%\u201d before losing all their money.<\/p>\n

The investigation revealed that Amey Finance promoted crypto schemes run by other companies. Among these schemes, the firm endorsed companies like HyperFund, which raised $1.7 billion worldwide.<\/p>\n

HyperFund raised the alarm of regulatory entities in the UK and New Zealand, who issued customer warnings against the company. The US Securities and Exchange Commission investigated<\/a> the company, ultimately charging its founder with fraud in January 2024.<\/p>\n

The director\u2019s contradictory statements prevent Insolvency Services from unveiling the true relationship between Amey Finance and HyperFund. However, Amey claimed he only used his firm\u2019s bank account to \u201chelp people buy cryptocurrency via a separate company called Bleuguava.\u201d<\/p>\n

During the investigation, the Insolvency Services had access to some messages from the director. Amey had told customers that the crypto investments<\/a> were \u201c100 certy\u201d and asked investors to \u201ctrust me bro.\u201d<\/p>\n

Further investigations showed that the director\u2019s email signature stated he was the Managing Director of Amey Commercial Finance Ltd, a company dissolved in 2017. In 2023, he had been evicted from the company\u2019s address in London despite claiming to still have a presence there.<\/p>\n

Ultimately, Amey\u2019s web of lies resulted in the loss of millions for the investors and his company\u2019s shutdown and future liquidation.<\/p>","protected":false},"excerpt":{"rendered":"

The UK government\u2019s Insolvency Service has shut down a crypto advisory firm for accounting negligence and the loss of investors\u2019 money. The firm seemingly claimed to help users with investments while promoting crypto schemes that resulted in millions lost. False Crypto Expert Company Shut Down On Monday, The UK\u2019s government published a press release unveiling […]<\/p>\n","protected":false},"author":0,"featured_media":1684,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[148,147,146],"class_list":["post-1683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds","tag-firmshutdown","tag-investmentloss","tag-ukcrypto"],"yoast_head":"\nUK Crypto Advice Firm Shut Down After \u00a35M Losses In Investors\u2019 Money - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/fr\/uk-crypto-advice-firm-shut-down-after-5m-losses-in-investors-money\/\" \/>\n<meta property=\"og:locale\" content=\"fr_FR\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"UK Crypto Advice Firm Shut Down After \u00a35M Losses In Investors\u2019 Money - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"The UK government\u2019s Insolvency Service has shut down a crypto advisory firm for accounting negligence and the loss of investors\u2019 money. 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