Court approves distribution of money recovered from Argento Wealth

The High Court has approved the pro rata distribution of money recovered by the Financial Conduct Authority (FCA) from Argento Wealth Limited (AWL) to eligible investors.

In 2024, the FCA received court approval to recover funds from AWL and its sole director, Daniel Willis, over the promotion of two alleged unlawful investment schemes.

The FCA announced in March 2026 that it had recovered money from AWL and applied to the High Court for permission to distribute the funds to affected investors.

Court documents showed the regulator recovered a total of £1,888,251 from AWL.

It has now received approval and those who invested in the AWL Loan Scheme or invested in the EMB Scheme, if their investment was arranged by AWL or its sub-distributors, are eligible and must act by 1 August 2026.

The FCA alleged that AWL unlawfully took around £2.8m as deposits under loan agreements and/or part of an unauthorised collective investment scheme, and arrangements in EMB Fund Limited totalling approximately US$9m that breached the restrictions on financial promotion.

It also alleged that Willis was ‘knowingly concerned’ in this unlawful activity.

AWL and Willis have not admitted any of the FCA’s allegations that led to the proceedings.

“We will make payments to eligible investors, as defined in the court judgment, who provide their bank account details on or before 1 August 2026,” the FCA stated.

“If we do not have your bank details by this date, then you will be unable to receive a distribution payment. The same applies if we are not aware of your investment by that date.

“If you have not previously been in contact with us, but you invested in the AWL Loan Scheme or in EMB Fund Limited (via AWL or its sub-distributors) and you think you may be eligible, please contact us as soon as possible, and no later than 1 August 2026.”

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