Fraud rap Scots space station investor launches £250k-a-week finance firm

dailyrecord.co.uk:

A businessman who became a major investor in Scotland’s space race while facing fraud charges has launched a £250,000-a-week financial advice firm.

The Sunday Mail previously told how a company run by Michael Haston was allowed to take a £2million stake in the Government-backed Shetland Space Centre despite serious concerns over his credentials.

He was charged with fraud in 2017 as part of an investigation which has now been discontinued. Another of his ventures – Leonne International – is the subject of a Financial Conduct Authority warning.The self-proclaimed “wonder kid”, who also uses the name Michael McQueen, is no longer involved in the space centre.Chief executive Frank Strang said: “Michael Haston is not involved in the Spaceport.

He is not an investor and he has absolutely nothing to do with our business. We cancelled his shares and repaid the loan.”But we can reveal he has moved on to a new Edinburgh-based scheme – Haston Economics – selling investment advice.The business, which has been promoted on national media platforms, charges prospective clients a one-off fee of £25,000 or £250,000 for a “week-long on-site visit by Haston Economics’ team of experts”.In a promotion for the firm, Haston said: “It can be very difficult and stressful if you don’t know what you’re doing but our system will give owners the knowledge they require to go out and engage directly with the appropriate investors if their investment offering allows them to do so.“People are out in the market trying to raise money via the traditional methods of banks, corporate financiers, private equity houses and crowdfunding platforms and such like.