Finance company is closed down by FSC

Saturday 26th July 2008, 10:00AM BST.

A LEADING Jersey finance company has been closed down by the Jersey Financial Services Commission following a police investigation into investment schemes which allegedly led to Islanders losing hundreds of thousands of pounds.

The JFSC has issued a public warning about Goldridge Stone and the company’s former advisers James Cameron, Russell Foot and John Lewis to say that they are no longer registered to provide investment advice in the Island.

JFSC director of enforcement Barry Faudemer said that an investigation had found that the three men were ‘unfit to be employed’ by a registered person.

The three men were ‘principal persons’ of Goldridge and also directors and shareholders of Sunstone Holdings Ltd. Goldridge was authorised by the commission to provide investment advice. Sunstone is a Jersey company whose activities do not fall within the regulatory responsibilities of the commission.

Read the full story in the Jersey Evening Post. Click here for subscription details. Individual editions are also available online.