Home Trade scam: Sebi bars foreign director for 10 yrs

Market regulator has made several attempts to trace Allen James Macmillan

Market regulator Sebi has barred for 10 years foreign national Allen James Macmillan, a director at erstwhile Home Trade Ltd which hit the headlines for an estimated Rs 500 crore scam nearly two decades ago.

The company had sought to position itself as a new-age finance portal comprising several e-commerce ventures with the help of glitzy advertising campaigns involving several top stars from cricket and Bollywood.

The latest order follows repeated attempts by Sebi to trace Macmillan, whose last-known address available with the regulator was that of the US, for serving show-cause notices and for getting his reply to a