Investment lost in a forest fire

Small investors looking for an eco-friendly home for their money must have thought that a forestry project was ideal.

More than £20million was raised by GFI Consultants Limited, aka Global Forestry Investments, for the scheme that promised an “ethical, financially rewarding investment” with better returns than gold, shares and even housing.

The idea was that the natural environment would be protected while producing 10% annual returns on minimum investments of £5,000, plus more returns when teak was harvested from the Belem Sky plantation in Brazil. A second scheme, the Para Sky project, raked in almost £4million. But investors got back barely £700,000. Now the two men behind the schemes have been banned from being directors for 10 years.

Omari Bowers, 41, and Andrew Skeene, 40, both from South London, have already been made bankrupt.

Around £13million of investors’ money went into their personal accounts, but the Insolvency Service says the recovery of any of it is “unlikely”.