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UK regulator's WealthTek criminal probe can be prioritized by freezing civil case, court rules

By Martin Coyle ( March 1, 2024, 16:31 GMT | Insight) -- A criminal probe into collapsed wealth manager WealthTek and its owner can take precedence over a civil case, a London judge said today, giving the UK financial regulator a year to move the investigation forward. The FCA opened civil and criminal proceedings against WealthTek and its owner John Dance after the company ceased operations last April. More than 80 million pounds of client money is suspected of going missing.A criminal probe into collapsed wealth manager WealthTek and its owner can take precedence over a civil case, a London judge said today, giving the UK's financial regulator a year to move the investigation forward....

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