More than 3,000 UK investors in a troubled unregulated investment scheme based in Costa Rica face a lengthy wait to find out if they will lose money. Photo for illustrative purposes
(Q24N) The liquidator of four UK-based companies, one of which promoted investments in Costa Rica and ran an ethical investment scheme has told investors that HM Revenue & Customs (HMRC) believes the companies owe it over US$20 million dollars.
The Ethical Forestry group promoted investments in Costa Rican tree plantations.
At least 3,300 UK investors are thought to have invested a minimum of  US$26,000 dollars each into the scheme.
The UK group was split into four companies; Ethical Forestry Limited, Ethical Forestry Holdings, EF Forestry Management Limited, EF Sales and Marketing Limited. In January the firms appointed HJS Solutions

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