The FCA has charged Bruce Rowan, David Simmons, Robert Sweeney and Justin Russell with multiple counts of conspiracy to commit fraud by false representation after they allegedly ran an unauthorised investment scheme accused of defrauding investors out of £3.9m.  

Robert Sweeney and David Simmons have also been charged with money laundering.   

The FCA alleged that between 1 May 2015 and 23 July 2019 the defendants conspired to defraud investors through two companies, Hanover Merchant Capital UK Ltd and Liberty House Capital Ltd.

The two companies have been accused of misleading UK investors that their money would fund water extraction and bottled water production and about the returns they could expect.

The defendants are set appear before the Westminster Magistrates’ Court on 3 April.  

The alleged misleading representations include: 

1. Hanover Merchant Capital UK Limited and Liberty House Capital Ltd were well-established investment companies with permanent London-based offices, and part of an international development group, and/or; 
2. Capital raised from investors would be paid towards the costs of, or otherwise invested in, a genuine water extraction and bottled water production and/or; 
3. Capital raised from investors would be insured by a valid form of insurance, and/or; 
4. Investors would receive regular annuities and returns generated by the capital they provided. 

In September 2019 the FCA warned that Hanover Merchant Capital UK Ltd of Berkeley Square, London was an unauthorised firm. Companies House records show that the firm was put into compulsory liquidation in November 2018.

Also in September 2019 the FCA warned that Liberty House Capital Ltd of Pall Mall, London was an unauthorised firm. Companies House records show that the company was dissolved in May 2023.

According to Companies House records Bruce Rowan, 64, is resident in Ireland; David Simmons 51 is a UK resident; Robert Sweeney, 52, is resident in Spain and Justin Russell, 53, is a British national.  

Conspiracy to commit fraud by false representation is an offence under section 2 of the Fraud Act 2006 and section 1(1) of the Criminal Law Act 1977 punishable on indictment by a fine and/or up to 10 years’ imprisonment.  

Money laundering is an offence under section 327 of the Proceeds of Crime Act 2002 and is punishable on indictment by a fine and/or up to 14 years’ imprisonment.