A failed lender that ploughed a church congregation’s money into real estate projects has collapsed, owing millions.
Fortress Capital Partners, an insolvent investment firm run by former bankrupt Ashley Reading, owes more than £18m to more than 230 investors, many of whom were part of the Tab Church in Lewisham.
This month, Fortress’s administrators filed a winding-up petition against Round World Real Estate UK, a businesses owned by football agent Terry Byrne.
Byrne’s business is already in receivership, with receivers appointed by Topland Jupiter in June.
Another of Byrne’s companies, 1966 Entertainment, part of Round World Group, was subject to a winding up petition in August following an application by the Portman Estate. It is understood the petition had been withdrawn.
