Trial date set for Currie brothers

Posted byDaniel CloakePosted inCriminal, FCA, P2PTags:

Two former directors of Collateral (UK) Ltd, Peter Currie, 57, and Andrew Currie, 56, appeared at Southwark Crown Court earlier today following action taken by the FCA.

Mr Peter Currie, pictured outside Westminster Magistrates’ Court in January 2022

Collateral purported to be a so-called Peer-to-Peer lending firm, which facilitated investments crowdfunded by members of the public.

Collateral (UK) Limited and two related companies entered administration in April 2018.

The men, who are brothers, are facing two charges under the Fraud Act 2006 and one charge under the Proceeds of Crime Act 2002.

The three charges are:

  1. Fraud by false representation contrary to sections 1 and 2 of the Fraud Act 2006; the particulars of which that between 12 December 2015 and 1 March 2018 they dishonestly made false representations to investors and potential investors that the Collateral company was authorised and regulated by the FCA.
  2. Fraud by abuse of position contrary to sections 1 and 4 of the Fraud Act 2006; the particulars of which that on or about 15 February 2018 they dishonestly abused their position as directors within Collateral by transferring £275,000 to a company under their control.
  3. Converting criminal property contrary to section 329 of the Proceeds of Crime Act 2002; the particulars of which that between 13 February 2018 and 28 February 2018, they converted credits with a total value of £410,401.69 from Collateral’s bank account to accounts held by the directors knowing or suspecting the same to be proceeds of crime.

Both men re-entered not guilty pleas to all charges following an initial indication at Westminster Magistrates’ court in January.

Mr Andrew Currie and his barrister Oliver Renton both appeared remotely via video link. Mr Peter Currie and his barrister Ashley Hendron both appeared in person. The FCA were represented by Stuart Biggs.

During this 14-minute hearing His Honour Judge Griffith ruled that the trial, with a time estimate of four weeks, should be listed to begin on April 11th 2023. A case management hearing is expected to be held in July 2022. (Update 15/7/2022: Now understood to be listed for October ’22).

Both defendants remain on unconditional bail.

Case details:
Court 8 Southwark Crown Court
Before HHJ Griffith
23rd February 2022 12.30pm
Plea and Trial Preparation Hearing
Case number: T20220056         
CURRIE Andrew
CURRIE Peter