HL Deb 20 July 1990 vol 521 c1184WA
Lord Clinton-Davis

asked Her Majesty's Government:

Why the Department of Trade and Industry refused to investigate the activities of Consolidated Sterling Deposits Incorporated consequent upon complaints made concerning allegations of fraud in relation to more than 400 investors in the United Kingdom and involving about £3 million.

Lord Trefgarne

Consolidated Sterling Deposits Incorporated is a Californian registered corporation which offers guaranteed fixed income from secured investment bonds. The department understands that there have been investments in these bonds through a UK investment company Hamilton House Associates Limited, which was a FIMBRA member until its suspension in January 1990, and through a firm called Page and Associates. In view of the size and complexity of the case, the matter was referred to the Serious Fraud Office who are currently carrying out an investigation.