Christopher Woolcott has pleaded guilty to 4 counts of fraud and forgery after creating a fake takeover bid for Touchstone Exploration Inc.
Mr Woolcott held shares in Touchstone Exploration Inc and stood to benefit financially from any upward movement in the share price had the fake takeover bid been announced to the market.
Mr Woolcott admitted creating a fictitious takeover approach for Touchstone Exploration Inc using multiple false identities and forged documents, in an attempt to lend credibility to the approach.
He will be sentenced at a later date.
Steve Smart, executive director of enforcement and market oversight at the FCA, said:
'Fake bids, forged documents and false identities have no place in our markets.
'Investors must be able to trust information that affects share prices. The FCA will take action against those who use deception and threaten that trust.’
Tackling market abuse and financial crime is a priority under the FCA's 5-year strategy.
Notes to editors
- Christopher Woolcott, of Greenwich, London, was born on 23 April 1982.
- Christopher Woolcott pleaded guilty at Westminster Magistrates’ Court on Thursday 10 September to:
- Fraud by false representation contrary to sections 1 and 2 of the Fraud Act 2006; and
- Three counts of making a false instrument contrary to sections 1 and 6 of the Forgery and Counterfeiting Act 1981.
- The FCA opened a criminal investigation into the matter in March 2025.
- Touchstone Exploration Inc is listed on AIM and the Toronto Stock Exchange. Touchstone Exploration Inc is not under investigation by the FCA in connection with this case.
- Tackling financial crime is a priority under the FCA's 5-year strategy[2].
- The FCA enables a fair and thriving financial services market for the good of consumers and the economy. Find out more about the FCA[3].