The FCA has launched an investigation into ‘fixed rate return’ bond provider the Moneda Capital Group and is investigating a number of people associated with the business.

Moneda promised investors returns of up to 7.25% per annum.

The group includes Moneda Capital PLC, Moneda Capital Asset Management Ltd, MCAM Ltd and VSD Capital Ltd.

In a statement the FCA said: "We have opened an investigation into the Moneda Capital Group and a number of people associated with its companies."

The FCA has provided few details at this stage of the probe, encouraging anyone who has invested with London-based Moneda to call its helpline.

Moneda appears to be unauthorised by the FCA which issued a warning earlier this week that the firm was "not authorised or registered by the FCA" and may be targeting people in the UK.

According to claims management firm National Fraud Helpline, a ‘significant number’ of investors have lost up to ‘millions of pounds’. The claims management firm is already aiming to contact investors at Moneda.

Moneda describes itself as a ‘forwarding-thinking investment group specialising in fixed rate return opportunities’.

Recent social media campaigns from Moneda saw the firm advertising access to fixed rate bonds with target returns of up to 7.25%

On its website, Moneda confirmed that it was aware it was under investigation by the FCA and that it has been under a "full asset restraint" order imposed by the FCA since 2 September.

A full asset restraint order prevents those under investigation by the FCA from liquidating, moving or spending assets during the regulator’s investigation.

According to Companies House, Moneda was previously known as Capital Schemes Plc.

In June Moneda Capital restructured its senior leadership team, adding Rene Wang (CFO), Troy Hubbard (COO), Lyande Laikai (director of strategic partnerships) and Gaurav Tiwari (CMO) as equal shareholders in the firm.

At the time the firm said its new structure would promote transparency and accountability.