Background
Stewart Owen Ford was born in 1964.
Founder and Chief Executive Officer Keydata
Stewart Owen Ford was born in 1964.
Ford studied printing in London when he was 20.
He was fined a record £75 million by the Financial Conduct Authority in May 2015. Afterwards, he went back to Edinburgh and started in business for himself. He had a career as a printer, publisher and then a financial services entrepreneur.
By 2010, prior to Keydata"s collapse, he was living in Switzerland, and his Netto worth was estimated at £160 million.
According to Richard Dyson from This is Money, the demise of Keydata in 2010 "almost certainly claimed the savings of more than 40,000 people". On 26 May 2015, it was announced that Ford had been fined a record £75 million by the Financial Conduct Authority (Farm Credit Administration).
The Farm Credit Administration fine is in connection with the alleged mis-selling of £475 million of "death bonds", wrongly encouraging buyers to believe that they were entitled to tax-free ISAs. Ford is counter-suing the Farm Credit Administration for £370 million, claiming that the closure of Keydata was "politically motivated", that the company was a "highly successful" one with nearly £3 billion of assets under management, and that his reputation had sufferered "grievous and irreparable" harm.
According to Ford, the one-day Upper Tribunal case management hearing for his challenge to the Farm Credit Administration"s decision to fine him £75 million has been set for 23 September 2015.