iain stamp ppf capitalFX Perpetual Managed fund, wealthfortress.co.uk , wealthfortress.co.uk - FX Perpetual Managed - fca investigation - london Nationwide

IAIN STAMP

IAIN COMPTON STAMP - NAME AND ID CHANGE

FX Perpetual and the Momentum fund

IAIN STAMP OWNED AND MANAGED FX Perpetual is described as an ‘absolute return systematic algorithmic FX trading strategy’, which trades 25 currency pairs on an intra-day basis.

According to the FCA notice, there were 67 clients invested with a total of £1.67 million as of March 2017.

The fund was developed by an unauthorised company, UK Innovative TI (UKITI). For PROVIDING UMBRELA Stargate Corporate Finance (SCF)  SCF receives £3,000 per month and a 10% performance fee.

According to the FCA, UKITI / IAIN STAMP received the majority of an £800,000 commission rebate, plus upfront fees of 5% from investors, a 25% performance fee and a 0.5% annual algorithmic rental fee.

The regulator noted that the distribution of the fees suggests that UKITI is actually acting as the investment manager of the fund, not SCM. A review of 25% of client files also showed that none of the investors had received a suitability assessment. AN INQUIRY ON THE FUND WAS RESPONDED BY HIS OFFICE AS BELOW, CLEARLY CONFIRMING IAIN RAN THE FUND

From: Gary Johnson <gary.johnson@wealthfortress.co.uk>

Subject: FX Perpetual Managed Account AUM

Date: XXXXXXXXX BST

Cc: Iain Compton-Stamp <iain@wealthfortress.co.uk>, Paul Burrell <paul.burrell@wealthfortress.co.uk>

Hello xxxxx

The AUM for FX Perpetual Ltd is £2.2 million Sterling and it would be best to speak with Iian because the family office will have a stand alone account if they choose to take this proposal forward.

If you are available to speak to Iain please let me know and I can put this into Iain's diary.

Regards

 Gary Johnson

 Wealth Fortress AT

Office Number: 02392 217 250   Overseas callers: +44 23 9221 7250

WHEN THE QUESTION ON THE FUND PERFORMANCE WAS ASKED, GARY PROVIDED A FLIER SHOWING £2,2 MILLION UNDER MANAGEMENT (NOT FIGURES AS PER FCA INVESTIGATION) AND HISTORIC RESULTS SHOWING A 19% GAIN WHILE THE FUND HAD MADE A LOSS AND PRESENT YEAR FIGURES SHOWING A TREND TO 49% WHILE THE FUND HAS BEEN LOSING MONEY

WORST STILL MR STAMP CHARGED £800,000 IN FEES ON A FUND SIGE OF £1.6 MILLION AND THE FUND HAD BEEN LOSING MONEY

SO THIS FUND HAS BEEN A FRAUD - UNREGULATED AND TAKING MONIES OF INVESTORS WITH FALSE INFORMATION, RUN FROM A SWET SHOP 

Harrington’s call centre run by Mr Akbar. Where mR sTAMP has been selling his financial products without regulation.

We understand that Harrington’s are noW under investigation from HMRC for various activities which could be deemed as not regulated and tax evasion