The City regulator “negligently” ignored a whistleblower’s claims two years ago of a potential fraud of millions of pounds at WealthTek, a group of former employees has alleged.
The Times has seen a series of emails sent to the Financial Conduct Authority starting in July 2021 from Gary Stockdale, its former head of research and a senior figure at the firm.
That correspondence raised serious concerns over “anomalies” in “cash movements” at the business.
The group has claimed that officials ignored the warnings and as a result allowed alleged thefts of client funds to continue for nearly two years.
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