Jersey

Financial advisor banned over £30m Balkan property 'loss'

A financial advisor from Jersey behind investment schemes which cost investors €38m (£30m) has been banned from senior finance jobs in the UK.

Craig Cameron, 46, of St Brelade, was also fined £350,000 by the UK Financial Conduct Authority (FCA).

In 2005, he persuaded 880 people to invest in property in Bulgaria, Croatia and Montenegro.

The FCA said the investments may now be worthless and described Mr Cameron as reckless and dishonest.

Mr Cameron, who resigned his only Jersey directorship in August, has not been banned from senior jobs in Jersey.

In a statement on Monday, however, the Jersey Financial Services Commission said it would take the FCA's ban into account if he applied for any senior finance positions in the island.

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