Raedex Consortium
The SFO launched an investigation into suspected fraud in relation to the activities of the Raedex Consortium, including the companies Buy2Let Cars, PayGo Cars, Raedex trading as Wheels4Sure and Rent2Own Cars, in the period 2012 to 2021.
Operating for nine years, the company offered car leasing schemes where investors were given the chance to invest in cars which would be leased out.
On 19 January 2024, the SFO charged Reginald Larry-Cole and Scott Martin each with three counts of fraud in relation to the scheme.
On 6 December 2024, both defendants appeared at Southwark Crown Court and each pleaded not guilty to all three charges. The trial is listed to start on 14 September 2026 and in due course, the SFO will be in contact with individuals who have provided a witness statement in this matter.
Case timeline
6 Dec 2024 – The two Defendants appeared at Southwark Crown Court and pleaded not guilty to all three charges.
29 Feb 2024 – Defendants appear at Southwark Crown Court.
1 Feb 2024 – First appearance at Westminster Magistrates Court.
19 Jan 2024 – Reginald Larry-Cole and Scott Martin charged with fraud and ordered to appear before Westminster Magistrates’ Court. See more information here.
20 Oct 2021 – Further arrests made at one site.
10 Jun 2021 – Investors and lessees invited to complete a secure investigation questionnaire in July 2021.
8 Apr 2021 – Search of two residential properties and interviews conducted with Reginald Larry-Cole and Scott Martin.
See our past press releases under “News” on the SFO’s National Archives page.
Information for investors
If you are an investor who has not previously completed a questionnaire, but would like to provide information, please contact the case team on Raedex.investigation@sfo.gov.uk and we can send a questionnaire to you.
If you have already completed the questionnaire, please do not forget to update us if your contact details have changed.
The Financial Services Compensation Scheme (FSCS) has opened applications to claims in relation to the Buy 2 Let scheme, further details can be found here.
Support for victims and witnesses
If you have been impacted by this case and need support, please see this page for information on support services available to you.
Updates to this page
Last updated 9 December 2024 + show all updates
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Added detail of arraignment.
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First published.