The FCA’s High Court claim

On 21 September 2026, the Financial Conduct Authority announced that it was taking Osborne Baldwin Ltd, which trades as Hunter Jones and Hunter Jones Group, and its director Reece Mennie to the High Court. Read the FCA’s announcement here.

The FCA’s claim, filed on 2 October 2026 and since made public, makes serious allegations:

  • A Ponzi scheme. The FCA alleges that money raised in newer fundraising rounds was used to repay earlier investors, rather than for the purposes advertised in the loan note offers. Its claim states: “This is a Ponzi Scheme.”
  • £9.7 million to the director. The FCA alleges that Reece Mennie personally made more than £9.7 million from the scheme, and describes him as the person behind it.
  • Investors’ money not used as promised. Investors were told their money would buy commercial buildings to convert into flats, which would then be sold or let to repay them. The FCA alleges that several properties were bought with secured lending instead, that millions were channelled between vehicles rather than invested in property, and that some buildings have never been converted and cannot produce rental income.
  • Unauthorised activity. The FCA alleges that Hunter Jones arranged and advised on investments and made financial promotions without authorisation, in breach of sections 19 and 21 of the Financial Services and Markets Act 2000. It says the loan notes were promoted through Google ads, social media, YouTube and roadshow events, and that brokers used high-pressure sales tactics and encouraged investors to roll over their notes.

The FCA is asking the court to declare that Hunter Jones and Mennie broke the law, to stop any further breaches, and to order them to take steps to repay investors immediately.

Did you send money to HJ Collections and Hunter Jones Group via JM Cane Accountants?

The FCA says bank accounts operated by JM Cane Accountants were used both to receive money from investors and to pay returns to investors.

The FCA’s analysis of those accounts shows:

  • 19,488 transactions across seven bank accounts.
  • More than £73 million paid in between January 2019 and December 2025. The accounts were then closed.
  • £56.5 million from third parties, which the FCA believes was mostly investors’ money.
  • £5.8 million paid in largely as cash, cheques and machine deposits.
  • £4.5 million from the HJ Collection companies themselves.
  • Up to £62.4 million in total that may have come from investors, on the FCA’s figures.
  • £12.9 million paid back out to investors.

The FCA says the repayments to investors from these accounts were more than the money received from sources other than investors. It therefore believes the repayments were “funded wholly or in part by monies paid by subsequent investors”.

No action is being taken against JM Cane Accountants by the FCA.

We were threatened by Hunter Jones Group’s lawyers. We did not back down.

Richardson Hartley Law has been warning investors about Hunter Jones Group and HJ Collection for months. During that time, lawyers acting for Hunter Jones Group threatened us and demanded that we take this page down.

We refused.

Our job is to stand up for investors, and we will not be intimidated into silence. The FCA has now brought its own High Court claim against Hunter Jones and its director. This page stays up, and we will keep fighting to get investors their money back.

How we can help Hunter Jones and HJ Collection investors

We have already recovered more than £250,000 for clients. We are now taking on more investors and pursuing every available route:

  • Group action. We are bringing Hunter Jones and HJ Collection investors together into a group claim. This puts more pressure on those responsible and makes the litigation more cost-effective for each investor.
  • Bank reimbursement. If you sent money from a UK bank account, you may be able to recover your losses from your bank under the APP fraud reimbursement rules. We regularly challenge banks that wrongly reject these claims.
  • Advice on rolling over. If you are being asked to roll over or reinvest your loan notes, speak to us before you agree to anything.
  • Asset recovery. We work with investigators and insolvency practitioners to trace and recover funds.

Why use a law firm rather than a claims management company?

Claims management companies cannot take your case to court. If your claim needs legal action, including a group action like this one, a CMC has to hand it to a solicitor anyway, often adding a cost and causing delay along the way.

Richardson Hartley Law is a firm of solicitors regulated by the Solicitors Regulation Authority. We are bound by strict professional standards, carry professional indemnity insurance, and can take your claim all the way through the courts if needed. You deal directly with the lawyers running your case.

Find out more: Why choose a law firm over a CMC

Background: Hunter Jones Group and HJ Collection

Hunter Jones Group describes itself as a property investment specialist and the investment arm of HJ Collection, which develops property across the UK. Both companies were set up and are run by Reece Mennie. Hunter Jones says it has raised more than £300 million since 2013, and has offices in London and Dubai.

In November 2025, the FCA issued a warning that Osborne Baldwin, Hunter Jones Group and HJ Collection may be providing or promoting financial services without its permission. That warning was later removed.

On 25 March 2026, following a petition by the FCA, the High Court ordered the winding up of Equity for Growth (Securities) Limited (EFG). Between 2015 and 2020, EFG acted as principal for appointed representatives including Osborne Baldwin Ltd, trading as Hunter Jones. The FCA said it acted against EFG after receiving many investor complaints, including complaints about mini-bonds issued by unauthorised companies and promoted by Hunter Jones. Hunter Jones and HJ Collection have continued to operate without EFG.

Did you invest in Hunter Jones Group or HJ Collection?

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