Reforms Ben Habib, the property entrepreneur and former Brexit Party MEP, has found himself in the midst of controversy after a recent £3m fundraise for his new investment platform First Property Group (FPG) was dubbed a “scandal” by activist investor ShareSoc. The funding round, which saw Habib’s stake in FPG diluted to just under 50%, raised eyebrows due to the perceived lack of transparency and conflicts of interest involved. ShareSoc expressed concern that Habib was using the fundraise to secure his control over FPG and potentially enrich himself at the expense of other shareholders. The activist group has called for a full investigation into the matter, citing potential breaches of corporate governance standards and shareholder rights.

Habib has defended the fundraise as necessary for the growth and success of FPG, arguing that the additional capital will allow the company to take advantage of attractive investment opportunities in the property sector. He maintains that the decision to dilute his stake was in the best interest of all shareholders and rejects any accusations of impropriety. Habib has long been a controversial figure in the property industry, known for his outspoken views on politics and economics. His involvement in the Brexit Party and vocal support for Brexit has garnered both support and criticism from various quarters.

Despite the controversy surrounding the fundraise, Habib remains confident in the future prospects of FPG and is committed to delivering value for shareholders. The company has a strong track record of delivering solid returns for investors, and Habib believes that the additional capital will only further enhance its performance. FPG focuses on value-add real estate investments across Europe, with a particular emphasis on the UK and Germany. The company prides itself on its hands-on approach to asset management and its ability to identify and capitalize on market opportunities.

ShareSoc’s criticism of the fundraise has put Habib on the defensive, but he is no stranger to controversy and is unlikely to back down in the face of scrutiny. His determination and confidence in his business acumen have served him well in the past, and he remains convinced that FPG has a bright future ahead. The property industry is no stranger to controversy and intrigue, and Habib’s latest fundraise is just the latest chapter in a long and colorful career. It remains to be seen how the situation will unfold, but one thing is certain – Ben Habib is not one to shy away from a fight.