Mr Moore ran an accountancy practice through his firm Moore & Co, from Victoria Road, Cirencester, Gloucestershire. After he died, a caretaker accountant quickly discovered that Mr Moore had also been operating an illicit investment business.
Tim Mayner of Cork Gully, the accountants appointed by the Department of Trade and Industry to wind up Mr Moore's estate, said he believed about 25 investors were owed up to pounds 1.3m.
On the information he and colleagues have gleaned so far, it looks as though there will be a shortfall of pounds 1m.
Mr Moore appears to have been offering investors high rates of interest on money supposedly invested, at least in part, in offshore bank accounts.
A spokesman for the Chartered Association of Certified Accountants said that it had carried out monitoring visits in accordance with arrangements with the Securities and Investments Board.Reuse content