The petition was issued following confidential enquiries carried out by Company Investigations, part of the Insolvency Service, under section 447 of the Companies Act 1985, as amended.
The investigation found that vulnerable and elderly individuals were being targeted and aggressively sold investments in fancy coloured diamonds, rough diamonds, gold, fine art and oil wells.
The companys sales team was located in prestigious office accommodation at 25 Canada Square in Canary Wharf.
The company claimed that its services represent excellent value and that for diamond trades it charged investors a 1.5% arrangement commission.
The investigation discovered that at least £7 million was raised from investors generating comm…
Read the full article at: http://www.investinuk.net/news/london-diamond-investment-company-loses-its-seven-million-pound-sparkle