A North West investment business has collapsed into administration amid a major fraud investigation which has resulted in several arrests by the City of London Police.
The 79th Group, which operated out of Southport Business Park, is being investigated for its offer of high-yield loan notes to investors, which promised generous interest returns over a fixed period. According to police, the suspected fraud is widespread.
Several companies linked to The 79th Group, including its parent company, have now filed for administration at the Manchester courts, with insolvency specialists Quantuma appointed to handle the process.
The firm had claimed to specialise in real estate investment, including the acquisition, management and development of “lucrative” assets. It marketed secured loan note opportunities with fixed returns of 12% for a £10,000 investment and 15% for £25,000.
According to the company, investor funds were used across real estate, wealth, aviation, and natural resource mining in countries including Canada and Guinea. Its directors are listed as David Webster, Curtis Webster, and Jake Webster. The company’s website is currently offline, phone calls go unanswered, and all email addresses appear inactive.
Four arrests have been made in connection with the investigation. Police say they recovered large amounts of cash, luxury watches and jewellery during searches, all of which have been seized. All suspects have been released on bail as enquiries continue.
A LinkedIn post from one former employee has also gone viral, stating he was made redundant just before payday and may not receive his salary. “This leaves me in an extremely difficult position financially,” he wrote, “with no income, no savings, and no immediate prospect of being paid.”
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In a statement to clients issued on April 10, 2025, The 79th Group said: “As a business we have ceased taking any new funds by way of our Loan Note offerings and have asked for a moratorium on payments to clients. It is our strong intention to complete these projects… we have instructed leading experts in all jurisdictions, to assist with the restructure plan.”
The statement also confirmed job losses and added: “These steps have been taken to ensure that the business survives and looks to deliver on its obligations.”
In February, City of London Police had posted an appeal online for potential victims of investment fraud linked to the group to come forward.
This notice read: “The City of London Police is investigating a suspected widespread fraud case where a company named the 79th Group is believed to be offering loan notes to investors with a high interest return over a fixed period.
“The 79th Group operate in real estate claiming to specialise in the acquisition, management and development of lucrative assets. They offer investment opportunities selling loan notes secured against properties.
“Investors are contacted by various third-party introducers offering the opportunity to invest with fixed returns between 12% for a minimum £10,000 investment and 15% for a minimum £25,000 investment.
“The 79th Group tell investors that funds are used for real estate, wealth and aviation. Another area of business advertised under the 79th Group is mining for natural resources in countries such as Canada and Guinea.
“So far, four people have been arrested in connection with 79th Group. A large amount of cash, luxury watches and jewellery were found during searches of properties, all of which were seized.
“All people arrested have been released on bail and enquiries are ongoing.”
City of London Police are urging anyone who has been contacted by representatives of The 79th Group – or individuals working on their behalf – to get in touch.
