As a researcher, I find it incredibly disheartening to learn about the shutdown of Amey Finance Academy Ltd., a crypto advisory firm that deceived and misled investors, resulting in millions of pounds lost. The story is particularly concerning given Desmond Amey’s claims of being an industry expert and offering financial advice on cryptocurrencies.
The UK’s Insolvency Service has closed down a crypto consultancy firm due to accounting mismanagement and the misappropriation of investor funds. The company appeared to offer investment assistance, but instead, it pushed crypto ventures leading to substantial financial losses for investors.
False Crypto Expert Company Shut Down
On Monday, the British government revealed in a press statement that Amey Finance Academy Ltd had been unmasked for weaving an intricate network of lies. Prior to this revelation, Amey Finance was known as a reputable and thriving independent consultancy, offering a broad range of financial services.
The crypto advisory firm boasted of operating a top-tier educational institution, providing clients with valuable guidance on investments and in-depth knowledge about cryptocurrencies.
I analyzed the situation and discovered that instead of advancing with our proposed projects as planned, the company opted to promote them, leading to significant financial losses for investors. On April 30, the UK’s Insolvency Services successfully petitioned the High Court in London for a winding-up order.
I served as the founder and sole proprietor of Amey Finance Academy, established in 2018. My mission was to provide financial guidance and instruction on cryptocurrencies. As an acknowledged wealth creation specialist based in London, I took pride in my expertise in this field.
The director reassured clients that their cryptocurrency investments were secure, but later reports indicated that some investors had incurred losses through the firm’s offerings.
Although the company, Amey Finance Academy, asserted possession of valid licenses from the Financial Conduct Authority (FCA) in 2022, it came to light that they were actually providing financial services and goods without being registered with the FCA.
As a crypto investor, I’ve come across disturbing news from Mark George, the Insolvency Service’s Chief Investigator. He alleges that Amey manipulatively encouraged people to invest in questionable cryptocurrency schemes and deceived them about the potential risks involved.
During the probe, it came to light that Amey Finance hadn’t provided current financial records when requested by the Chief Investigator. Consequently, the Insolvency Services were unable to fully understand the scope of Amey Finance’s business dealings.
Although the agency couldn’t provide clear information, they estimated that over £5 million moved through the company’s banking system during the years 2019 to 2022.
The inadequate provision of financial records and the company’s lack of openness have hindered the Insolvency Service from determining the complete picture of the business’s operations, property, debts, and the disposition of the £5 million that moved through its bank account during the period from October 2019 to March 2022.
‘Trust Me Bro’ Director Promotes Schemes
Based on the announcement, Amey gave customers false representations about the investment prospects. He promised that their funds would never fall below the 90% mark before being completely depleted.
The probe uncovered that Amey Finance supported crypto initiatives managed by other businesses. Notably, they backed firms such as HyperFund, which amassed a global total of $1.7 billion in investments.
In early 2024, the founders of HyperFund faced allegations of fraud from regulatory bodies in the UK and New Zealand. Consequently, these authorities issued public warnings to their citizens about dealing with the company. Subsequently, the US Securities and Exchange Commission launched an investigation into HyperFund’s activities, leading to the filing of fraud charges against its founder in January 2024.
As a researcher investigating the intricacies of the financial relationships between Amey Finance and HyperFund, I’ve encountered a perplexing issue: The director’s conflicting statements have hindered my ability to clearly depict their true connection. Yet, according to Amey, he merely facilitated cryptocurrency purchases for individuals through his firm’s account using a separate entity called Bleuguava.
As a researcher conducting an investigation, I came across communications between the director and their customers. In these messages, Amey expressed confidence in the crypto investments, stating they were “100 percent certain.” Additionally, Amey urged their investors to place trust in them, using colloquial language such as “trust me bro.”
Subsequent probes uncovered that the email signature of the director indicated he held the position of Managing Director at Amey Commercial Finance Ltd, a business that had been liquidated in 2017. In 2023, he was forced out of the London office address he continued to assert he maintained affiliation with.
As a crypto investor looking back on the situation, I can’t help but feel deceived by Amey’s intricate web of falsehoods. The financial losses we endured as a result of his deceit amounted to millions. Regrettably, his company had to close its doors and is now undergoing liquidation.
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2024-05-15 06:12