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British watchdog charges two brothers over collapsed peer-to-peer lender -Breaking

by Mike Robinson

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LONDON, (Reuters) – Britain’s financial watchdog announced Friday that two directors of Collateral UK Ltd. (a peer-to-peer lender now insolvent), have been charged with criminal offences.

According to the Financial Conduct Authority, brothers Peter Currie and Andrew Currie face fraud and proceeds of crime offenses. They are scheduled to appear in court in London on January 26. They were not available for comment immediately.

In a statement, the FCA claimed that brothers Curries falsely stated to investors that Collateral was authorized and regulated to be a peer to-peer lender.

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