§ The Earl of Northeskasked Her Majesty's Government:
What action they propose to take to protect consumers from the activities of the pyramid selling scheme known as Titan 3.
§ The Minister of State, Department of Trade and Industry (Lord Clinton-Davis)It is my department's policy not to comment on the affairs of individual companies.
However, the department has taken action against a number of money circulation schemes. The Court of Appeal, in a case which attracted considerable press coverage, stated that such schemes "involve those who set up, promote, purvey and administer the scheme in criminal offences". My department has powers to regulate trading schemes operating within the UK, including money circulation schemes, under the Trading Schemes Act 1996.
If the noble Lord has any information concerning the company referred to in his Question no doubt he will arrange for it to be forwarded to the department.