UK’s FSA gets winding up order against biofuels firms

Britain’s Financial Services Authority (FSA) regulator has secured winding up orders against two unauthorised companies operating a bio-fuels collective investment scheme, the FSA said.

The regulator said it had obtained the High Court winding-up orders against Bio Partners Limited and Zambia Alpha One LLP.

It said the two companies operated a collective investment scheme which invested funds in the farming of a bio-fuel crop in Africa but neither had been authorised by the FSA to do so.

The scheme took in almost 1 million pounds ($1,58 million) from UK investors.