The FCA alleges the defendants were involved in the promotion of investment schemes relating to a purported commercial development in Madeira, in which 175 investors may have lost approximately £2.75 million.
The promotion and sale of shares were made through a succession of four alleged ‘boiler room’ companies, all of which traded from Docklands, London.
The FCA has already charged five other defendants as a result of the investigation in June 2016.
In a statement, the FCA said it cannot provide any further comment or information at this time.