The UK Financial Conduct Authority (FCA) is alleging that Concept Capital Group (CCG) and its principals participated in an unauthorized investment plan that raised over £23 million.
Court proceedings have just begun, but the agency has issued a statement highlighting that the enforcement action will name affiliated parties engaged with the scheme. These include Ian Anthony Elliott, Adrian Felix, Ayub Swaibu, Edmund Brew, Ernest Kargbo, Raymondip Bedi, Riverrun Consulting Limited and Gateridge Consulting Limited. The funds raised were ostensibly for “static homes,” said to be let to social housing tenants placed by local councils.
The website promotes alternative investments that cater to the “need for quality, affordable housing in England.” There is a different firm in Switzerland with similar branding.
The court has already acted by freezing assets pending on the outcome of the legal action.
The FCA alleges that the scheme operated as an unauthorized collective investment scheme, with CCG carrying on regulated activities in the UK without the required authorization or exemption.
The FCA also alleges that the firm issued unauthorised financial promotions and made false or misleading statements and/or impressions, in breach of the Financial Services and Markets Act 2000 (FSMA) and the Financial Services Act 2012 (FSA 2012).
Alongside Ian Elliott, the FCA claims that Adrian Felix and his company Gateridge Consulting, Ayub Swaibu, Edmund Brew, Ernest Kargbo, and Raymondip Bedi and his company Riverrun Consulting were knowingly concerned in CCG’s breaches. Bedi was sentenced on 4 July 2025 for a different act of fraud.