A group of companies which conned investors out of £2m in an investment scam has been ordered to be wound up by the High Court.
The Sentor Group of companies falsely claimed that its investments were covered by the Financial Services Compensation Scheme and were “government-backed.”
The firm has been linked to a ring of credit brokers mis-using their FCA permissions to offer investment products.
The Insolvency Service, which undertook the court action, said the Sentor Group had taken over £2 million from investors as part of “systematic scam.”
The Sentor group comprised Southampton-based Sentor Solutions Commercial Ltd, Fabcourt Developments Ltd, Sentor Solutions Advisory Ltd and Sentor Solutions Ltd. The latter two companies changed their names and most recently traded as Hall Contracting Services Ltd and Clarkson Murphy Partners Ltd respectively.
In 2021 the FCA restricted Sentor Solutions Commercial Ltd to prevent it carrying out regulated activities without prior written consent from the regulator.
Sentor Solutions firms introduced consumers to Texmoore and Fabcourt who appeared to have been promoting high-risk investments in property development. Neither Texmoore nor Fabcourt have ever been permitted by the FCA to provide regulated investment services.
The Sentor group has been wound up in the High Court with the Official Receiver appointed liquidator of the companies.
The Insolvency Service said that promotional material provided by Fabcourt Developments to investors claimed that Sentor Solutions Commercial and Clarkson Murphy Partners were the Security Trustee for the investment scheme. The scheme promised fixed rate investment products in the form of convertible loan notes with high monthly or quarterly interest rates for a duration of 2-3 years.
Fabcourt Developments was the successor to Sampson Property Developments Ltd, previously known as Texmoore Limited, which had operated the same scam until it entered into compulsory liquidation on 23 March following a creditors’ petition.
Between them, the companies took over £2 million from investors.
Both Clarkson Murphy Partners and Hall Contracting Services had also been said to be Security Trustees for the Sampson Property Developments scam.
The companies told investors that the loan notes were “government-backed” and that their investments were covered by the Financial Services Compensation Scheme.
The Insolvency Service investigation into the companies established that the Sampson Property Developments and Fabcourt Developments schemes were part of an investment fraud collectively operated by the companies.
The investigation found that, having received funds from would-be investors in the Sampson Property Developments and Fabcourt Developments schemes, the companies would make a handful of monthly interest payments on their investments before going silent and leaving investors out of pocket.
The properties set out in promotional materials were found to be owned by unrelated entities and videos promoting the investment schemes had been cloned.
Edna Okhiria, chief investigator at the Insolvency Service, said: “It is undeniably in the public interest for these companies to be prevented from continuing to trade, which will enable the Official Receiver to carry out further investigations into the activities of the companies to establish the extent of its liabilities, the position as regards any assets, the whereabouts and conduct of the directors and any other culpable parties.
“These companies operated a fraudulent scheme whereby they mislead the public, falsely claiming that the Texmoore and Fabcourt investment schemes were regulated to provide the veneer that funds invested were protected when in fact they were not. These claims induced investors to invest substantial sums. The companies then failed to make more than a few monthly interest payments, leaving investors substantially out of pocket.”
• Company details: Sentor Solutions Commercial Ltd (company no. 12309797). Hall Contracting Services Limited formerly known as Sentor Solutions Advisory Ltd (company no. 12139495). Clarkson Murphy Partners Limited formerly known as Sentor Solutions Ltd (company no. 08327930). Fabcourt Developments Limited (company no. 08890452).
• Enquiries about the companies can be made to The Official Receiver This email address is being protected from spambots. You need JavaScript enabled to view it..
