The UK's Insolvency Service has closed down Amey Finance Academy Ltd, a crypto advisory firm, due to accounting negligence and significant losses in investors' money, estimated at £5 million.

The firm, led by Desmond Amey, misrepresented investment opportunities while promoting crypto schemes, resulting in substantial financial losses for investors.

Despite claiming to offer financial services with proper licensing, the company operated without authorisation, raising concerns about its legitimacy.

Investigations revealed Amey's misleading statements and contradictory actions, leading to the shutdown and future liquidation of the company.