Accountants Ditch Investors' Suit Over Alleged Ponzi Scheme

By Bonnie Eslinger (September 24, 2021, 4:49 PM BST) -- A judge has tossed claims by investors seeking more than £1 million ($1.4 million) from their accountants for losses from tax avoidance plans and investments made with a foreign exchange trading company investigated for fraud.

Judge Mark Cawson, sitting as a judge of the High Court, said on Friday that the firm had no duty of care or due diligence obligation.

The lawsuit brought by Alastair Graham Knights, an artificial plants business owned by Knights and his wife and their investment entity claims that their accounting firm agreed to look into the investment opportunity offered by Capital World Markets FX in London...

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