he Financial Conduct Authority today launched a legal action against the bosses of a Gatwick airport carpark investment scheme that collapsed after raising £230 million from thousands of savers.
Yesterday, it was revealed that investors were suing Park First and its controversial founder Toby Whittaker for fraud and today the FCA launched a separate action alleging the scheme made “false and misleading statements” in its promises to potential investors.
A total of 4500 largely elderly investors put money into the scheme, many of whom also lost money with London Capital & Finance.
A large number of them used their self-invested personal pensions to buy the product, which involved buying car park spaces at Gatwick and Glasgow airports then leasing them back to the company in return for high rates of return.
Here are the T&Cs and I've also added another example of a car 'improperly' parked in the unequal bays.
NCP Car Park N12 - another example.pdf
NCP N12 Car Park - Terms and Conditions.pdf
Don't touch them owe me £500 since January 2019 make excuse after excuse. Seem they always have software problems sending money out. Keep saying they will call back or email nothing been chasing it now for 6 mths the phone staff always have the same banter we will chase it up and get back to you then nothing!