I know how you all love a tale of evil businesspeople on here, but this one just about takes the biscuit.
The news about the SRA suspending these three broke at the end of last week so is not new. The details are beginning to drip out though, some in this article and some unconfirmed conjecture I was told yesterday which suggests CEO Pragnesh Modhwadia has absconded to Pakistan (no extradition treaty) with £50-£60 million of client monies.
You can moan as much as you like about OFWAT or the FCA as a regulator, but I don't recall them ever sanctioning a deal whilst they were already investigating the main protagonist for dishonesty...
The SRA appears to have. Oh dear.
https://www.rollonfriday.com/news-conten...and-plexus
The news about the SRA suspending these three broke at the end of last week so is not new. The details are beginning to drip out though, some in this article and some unconfirmed conjecture I was told yesterday which suggests CEO Pragnesh Modhwadia has absconded to Pakistan (no extradition treaty) with £50-£60 million of client monies.
You can moan as much as you like about OFWAT or the FCA as a regulator, but I don't recall them ever sanctioning a deal whilst they were already investigating the main protagonist for dishonesty...
The SRA appears to have. Oh dear.
https://www.rollonfriday.com/news-conten...and-plexus