The High Court has wound up seven companies run from an office in Mayfair, London, after an Insolvency Service investigation found that their marketing of high-risk mini-bonds, used to fund property development projects, was misleading and the directors continued to take investors money even after the companies were insolvent.
The principal directors of all the companies were Christopher John Madelin and Oliver James Mason and the companies involved were:
- 4 unregulated mini-bond investment vehicles (Magna Investments X Ltd, MIX2 Ltd, MIX3 Ltd and MIXG Ltd), raising over 20m from members of the public
- An associated group and brand holding company (Magna Asset Management Ltd)
- An operational company (Magna Project Management Ltd)
- A c…
Read the full article at: https://www.miragenews.com/magna-group-mini-bond-companies-shut-down-614963/
