UK director gets 12-year ban for peddling overpriced investments

Warning-Sign-Yield-Slow-Stop-Danger-700x450.jpg

A director of UK company Global Metal Exchange has been disqualified for selling rare earth elements at a price inflated by several hundred per cent.

Samuel Peter Hawkins has been disqualified for 12 years, effective 22 March.

An investigation by Company Investigations found Global Metal Exchange owes customers at least £33,414.61.

The company called individuals to sell them the overpriced rare earth elements, which they marketed as a suitable investment.

Hawkins was also found to have failed to maintain proper records, and as a result the amount owed to customers may be higher than that uncovered by the investigation.

Global Metal Exchange was incorporated in 2016.