Coworth Investments

Dubai regulator fines & bans U.K. national Stuart Coles after OffshoreAlert exposé

July 7, 2022

An investigation by the Dubai Financial Services Authority that was triggered by an OffshoreAlert exposé has resulted in a $240,000 fine and industry ban for United Kingdom national Stuart Coles and public censures for three of his companies, Coworth Investments, Coworth Fintech, and Novus Fintech.

Stuart Coles: $240K Fine & Disqualification (Dubai)

March 15, 2022

Decision Notice by the Dubai Financial Services Authority imposing a fine of $240,000 and industry ban on Stuart Coles, a citizen of the United Kingdom.

Novus Fintech Ltd.: Public Censure

March 15, 2022

Decision Notice b the Dubai Financial Services Authority that it has imposed a Public Censure on Novus Fintech Ltd., whose "sole owner and director" was identified as Stuart Coles, a citizen of the United Kingdom.

Coworth Investments Ltd.: Public Censure

March 15, 2022

Decision Notice by the Dubai Financial Services Authority imposing a Public Censure on Coworth Investments Ltd., whose "sole owner and director" was identified as Stuart Coles, a citizen of the United Kingdom.

Coworth Fintech Ltd.: Public Censure

March 15, 2022

Decision Notice by the Dubai Financial Services Authority that it has imposed a Public Censure on Coworth Fintech Ltd., whose "sole owner and director" was identified as Stuart Coles, a citizen of the United Kingdom.

Coworth Investments Ltd. et al: Dubai FSA’s ‘Regulatory Clarification’

November 16, 2021

Dubai Financial Service Authority's "Clarification regarding the regulatory status" of Coworth Investments Ltd., Coworth Fintech Ltd., and Novus Fintech Ltd. Editor's Note: As previously reported by OffshoreAlert, Coworth and Novus are part of a group controlled by British fraudster Richard Fagan.

British fraudster Richard Fagan’s Coworth Investments reports net liabilities of £500K

September 17, 2021

British firm Coworth Investments Ltd., which is operated by British and Irish serial fraudster Richard Fagan, has reported net liabilities of £559,494 in its latest financials.

Coworth Investments Ltd.: 2020 Accounts

September 17, 2021

Unaudited Financial Statements for 2020 of Coworth Investments Ltd., filed with Companies House for England and Wales.

Richard Fagan’s British polo fraudsters set up fake ‘Swiss bank’ & attempt Cayman fund take-over

February 18, 2021

Middle East-based British polo players led by Richard Fagan who fund their lavish lifestyles through investment fraud have set up a fake 'Swiss bank' and are trying to take over a Cayman Islands fund, OffshoreAlert can reveal.

Stuart Coles: LinkedIn Profile

January 30, 2021

LinkedIn Profile of Dubai-based British national Stuart Coles, part of a group of companies in Britain and the Middle East doing business as 'Coworth Investments' and 'Novus', on January 30th, 2021 in which he, inter alia, described himself as "Co-Founder & Chief Executive Officer" of "Novus Bank", of "Zug, Switzerland", which, in reality, does not exist. Coles deleted the profile on February 11th, 2021 - two hours after OffshoreAlert started asking him questions about his business interests.