Francois de Dietrich Sentenced To 18 Months Imprisonment For failure To Comply wWth Court Order And To Cooperate With FSA Investigation

The High Court in Northern Ireland has committed Francois de Dietrich to an 18 month prison sentence after he failed to comply with a court order obtained by the Financial Services Authority (FSA) and statutory information requests from the FSA ordering him to give, amongst other information, details of where his assets were held.

The FSA earlier obtained a High Court order restraining any potential unauthorised activity and freezing £20,223,485 assets of Francois de Dietrich and ETIC Solutions Ltd (ETIC).

Francois de Dietrich and ETIC are believed to be behind an illegal investment scheme.

The order by the High Court in Northern Ireland allows the FSA to preserve the funds and other assets held by de Dietrich and/or ETIC until the court decides whether he has broken the law.

The court will also decide how much money, if any, should be returned to investors and other creditors.

Meanwhile, the FSA is continuing its investigation into the activities of de Dietrich and ETIC.

Any investors in this scheme should contact the FSA either call the Contact Centre on 0845 606 1234 or via email on consumer.queries@fsa.gov.uk.

Background

1. The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; securing the appropriate degree of protection for consumers; fighting financial crime; and contributing to the protection and enhancement of the stability of the UK financial system.