views

Keydata CEO made personal loan

The chief executive of Keydata, the collapsed specialist investment firm, made personal loans worth several million dollars to the man behind the investment vehicles that Keydata is blaming for a £103m shortfall in client funds. Court documents show that Stewart Ford lent $3.25m to David Elias, who managed funds that Keydata sold on to its clients. The loan, made in October last year, was supplemented by a further $1m in December, as well as a bond expressed to be worth $2.1m, according to the May summary judgment of a High Court case brought by Ford against Mr Elias. The Serious Fraud Office is understood to be investigating the case.

Related articles