April 3, 2024
By Najiyya Budaly (January 26, 2022, 11:41 AM GMT) — A judge in London has shut down a property development company after finding that its directors cheated investors out of £1.1 million ($1.5 million), a government agency has said.

Judge Nicholas Briggs wound up Exmount Construction Ltd. at the High Court on Nov. 2 and appointed the Official Receiver as liquidator, the Insolvency Service said on Tuesday.

The development company, which was based in north London, was incorporated in July 2013. It promised fixed returns of 9.12% for three-year bonds and 10.35% on five-year bonds, and investors poured £1.1 million into the company between March 2018 and July 21019, the Insolvency…

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