Two brothers who ran a failing lending platform have denied defrauding and illegally embezzling nearly £700,000 from the company before it collapsed.
Andrew Currie, 56, of Rufford and Peter Currie, 57, of Thornton-Cleveleys, appeared at Southwark Crown Court on Tuesday charged with two counts of fraud and one count of possession of criminal proceeds.
The brothers were directors of Collateral UK, which linked ordinary investors with people wanting to borrow money secured by property or jewellery, until it went into administration on February 28, 2018.
They are accused of falsely telling investors that the platform was authorized by the Financial Conduct Authority between December 2015 and March 2018, knowing that was not or might not be true.
The pair are also accused of transferring £275,000 from the company to property developers Auri Developments on February 15, 2018, days before it ceased operations.
They also allegedly transferred £410,000 which they knew or suspected were the proceeds of crime to two of Andrew Currie’s bank accounts between February 13 and February 28, 2018.
Peter Currie, who appeared in court wearing jeans and a blue jacket, spoke only to confirm his name and plead not guilty to all charges.
Her brother appeared via video link and also denied all three charges.
Judge Martin Griffith released them on outright bail until their trial on April 11, 2023, which is expected to last four weeks.
Peter Currie, of Thornton-Cleveleys, Lancashire – who the court heard lives in Spain – and Andrew Currie, of Rufford, Lancashire, deny fraud by false representation, fraud by abuse of position and possession of the proceeds of crime