Three defendants found guilty of an authorised share scheme now face bankruptcy orders having failed to pay £3.62m in restitution.

Lee Skinner, Tyrone Miller, and Clive Mongelard (aka Clive Harris) have had bankruptcy orders made against them after failing to pay restitution to consumers who bought shares that were promoted unlawfully.

Four defendants were found guilt of the unauthorised share scheme in May 2020. They were ordered by the High Court to pay £3.62m in restitution.

The fourth defendant, Karen Ferreria has made an application to appeal the judgement against here and therefore enforcement has been suspended pending the Court of Appeal’s decision.

The FCA applied for the bankruptcy orders between February and April.