Former deputy leader of George Galloway’s Workers Party of Britain, Ahsan Ullah, is at the centre of an alleged investment mis-selling scandal involving his property firm Avora Capital, Times UK reports. Investors claim they are unable to access their money after Ullah became sole director of the firm in November 2024, following a period in which the company promised high returns on investments intended for social housing projects.
Avora Capital, which boasts nearly 350 shareholders, is believed to have received up to £24 million from investors, though company filings show net assets of only £6.8 million. Several investors told Times UK that they were drawn to the firm with promises of guaranteed 8 per cent returns and contributions to social housing, with some even investing pension funds or insurance payouts. Dividend payments, which continued for a short period after Ullah’s takeover, were abruptly halted, and investors have not been able to withdraw their funds despite repeated assurances.
Investigations have revealed that Avora owns only a fraction of the properties it claimed, with just nine homes purchased between November 2022 and February 2024 and limited evidence of social housing. Promised investments in warehouses, offices, and a broader £50 million portfolio never materialised, leaving many investors concerned about the fate of their money.
Ullah, 45, who denies wrongdoing, stated that he has “always acted in the best interests of shareholders” and said the company complies with UK law, including data protection requirements. The Workers Party confirmed it had parted ways with Ullah, in part due to his involvement with Avora. Essex Police are reportedly assessing complaints relating to the business.
Investors, including those who placed large portions of family savings into the firm, say they are facing financial hardship. One, Lorella Marchione, invested £75,000 of her disabled son’s insurance payout and received dividends for several months, but has not seen a payment since last September. Another, Daria Zuevskaia, invested nearly £140,000 and has been unable to recover her funds despite repeated attempts.
The case has raised questions about regulatory oversight, as Avora was never registered with the Financial Conduct Authority, leaving investors without formal protections. Times UK reports that the unfolding situation has left many in the investment community deeply concerned, with some forming online support groups to share experiences and push for accountability.
