We have recently obtained High Court restraining and freezing injunctions against Mr Darren John Upton and Upton & Co Accountants Ltd. The injunctions have the effect of freezing assets and sums held in UK bank accounts and have restrained Mr Upton and Upton & Co Accountants Ltd from conducting any further activities for which they need to be authorised by the FSA.

The grounds on which the injunctions were granted were that Mr Upton and Upton & Co were conducting investment activity without being authorised, or exempt from authorisation, by the FSA, through the operation of a scheme described as the ‘Currency Plan’.

While the injunctions are in place, Upton & Co Accountants Limited may not pay out any sums to investors or receive further funds into the ‘Currency Plan’.

Investors who have paid money into the ’Currency Plan’.

We are seeking a declaration from the court that the ‘Currency Plan’ was operated without the required FSA authorisation, and an order for such funds, as are available, to be returned to investors.

Following the filing of court documents by us, Mr Upton, and his company, the matter will be scheduled for hearing by the High Court.

These proceedings are expected to take a number of months.

If the company has accepted investments without authorisation, ‘Currency Plan’ investors will not have access to the Financial Ombudsman Service (for complaints) or the Financial Services Compensation Scheme (FSCS) for compensation.

We have written to all 'Currency Plan' investors whose details we hold and are currently analysing the information we have received so far. If you haven’t replied to us yet, please do so as soon as possible. In the meantime we are continuing our investigation, so as to maximise the amount of money to be returned to you.

Since the injunction was granted, we have been liaising with Mr Upton's solicitors to ensure the legal process is concluded as swiftly as possible.

We can also confirm that the injunction which freezes the assets of Mr Upton and Upton & Co. Accountants Ltd remains in place.

We will provide further updates as and when possible.

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