The UK government has shut down a crypto advisory firm, Amey Finance Academy Ltd, due to accounting negligence and significant investor losses. The firm, which claimed to provide expert crypto investment guidance, promoted risky schemes resulting in millions lost. Despite claiming to be a successful and established consultancy, the company operated without proper licensing and misled investors about the risks involved.

Desmond Amey, the sole director and shareholder, presented himself as a "wealth creation expert" and assured investors their crypto investments were secure. However, investors reported significant losses, and the company was found to be operating without authorization from the Financial Conduct Authority (FCA). The FCA warned investors in 2022 that Amey Finance Academy was offering financial services and products without registration.

The Insolvency Service's investigation revealed that the company failed to provide up-to-date accounts, making it difficult to determine the full extent of its activities. However, at least £5 million passed through the company's bank accounts between 2019 and 2022. Amey misrepresented investment opportunities, assuring customers their investments wouldn't drop below 90% before losing all their money.

The investigation also revealed that Amey Finance promoted crypto schemes run by other companies, including HyperFund, which raised $1.7 billion worldwide and faced regulatory warnings and fraud charges. The director's contradictory statements prevented the Insolvency Service from uncovering the true relationship between Amey Finance and HyperFund.

The company's shutdown and future liquidation result from Amey's web of lies, leading to significant investor losses. The case highlights the importance of proper regulation and due diligence in the crypto industry.