FCA chases £10.7m restitution after Appeal Court win in Avacade case

By Neasa MacErlean

TheFCA is seeking £10.7m from two unauthorised companies and three of theirdirectors after 2,000 individuals of modest means lost pension money in treeplantations in Costa Rica and other alternative investments. The move follows aCourt of Appeal decision to uphold findings of breaches in the ‘Avacade case’by the Financial Conduct Authority.