Financial Conduct Authority

Racehorse owner John Dance has been charged with nine criminal offences in "one of the most serious and largest frauds ever investigated" by the UK's financial regulator. Dance is accused by the Financial Conduct Authority (FCA) of transferring more than £64 million from client accounts of a wealth management firm to fund his "lavish lifestyle" and business interests between 2014 and 2023. The 50-year-old was principal partner at WealthTek LLP, formerly known as Vertem Asset Management LLP, a prominent sponsor within racing. He also owned the multiple Group 1 winner...