A recent court case saw a 'friend' jailed for conning more than £4m from investors. Whilst being jailed sees some justice there is no mention as to how or if any recoveries have been made for the victims.
A victim can take action as an individual or collectively with other victims and use The Insolvency Act to seek recoveries. Whilst this may be seen as a last resort it can be a powerful tool to relieve the perpetrator of their ill gotten gains and seek a recovery to their creditors.
However, the devastating impact on dozens of friends and colleagues who trusted Morris was revealed this week as she was jailed by Leeds crown court for eight and half years after duping investors out of more than £4 million. Her promises of fantastic returns from the Cyprus property market cost them their savings, inheritances and redundancy payments, as well as dreams of early retirement, good schools for their children and secure financial futures. Some suffered nervous breakdowns and marriages were destroyed. Morris, 46, originally from Australia, arrived in Harrogate in North Yorkshire in 2004 with her husband William, a KLM pilot, and their two daughters...... . The manor house became the base for Morris & Hale, her financial advice business.