FCA takes Hunter Jones to High Court over unauthorised activity
Regulator seeks to stop property investment firm from operating and recover funds for investors.
The Financial Conduct Authority (FCA) has initiated High Court proceedings against Osborne Baldwin Limited, which operates under the name Hunter Jones. The regulator is seeking an order to prevent the property investment firm from conducting regulated financial activities without the necessary authorisation.
The FCA is also asking the court to compel Hunter Jones to return money to investors. The firm claims to have facilitated the raising of more than £300 million for property investments. Loan notes, a type of debt agreement used by companies to raise capital, are a focus of the firm's activities.
Social Media Presence
Hunter Jones is run by Reece Mennie, who has a significant presence on social media with over 76,000 Instagram followers. His podcast has featured guests including former England footballer John Terry and boxer Conor Benn.
The proceedings are currently at an early stage, with the court yet to determine the claim and no trial date set, according to the FCA. A company that previously provided regulatory cover for Hunter Jones to market loan notes, Equity for Growth (securities), was censured by the regulator last month.
Investors who have used Hunter Jones and have concerns are advised by the FCA to contact the regulator via [email protected].
Questions this report answers
01What is the Financial Conduct Authority asking the court to do regarding Hunter Jones?
The FCA is asking the court to stop Hunter Jones from carrying out regulated financial activities without authorisation. They are also seeking to compel the company to return money to investors who have used their services.
02How much money does Hunter Jones claim to have raised?
Hunter Jones claims to have helped raise over £300 million for property investments. This figure relates to the capital facilitated by the firm for various property ventures.
03Who is Reece Mennie and what is his connection to Hunter Jones?
Reece Mennie runs Hunter Jones. He is also a social media influencer with a substantial following on Instagram, indicating a public profile linked to the firm's operations.
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