In last Saturday’s edition of the Times, they covered an all too familiar scenario that we, unfortunately, see come through our doors regularly.
The article covers the story of an investor, Allison Leonce-Coley, who inherited a substantial cash sum from her late mother and invested it in an unregulated financial product. In her case, she invested her lumpsum in minibonds, which promised excellent returns only to lose it all at the hands of these investment companies a few years later when they went bust. Unfortunately for investors in unregulated financial products like Alison, their savings are not protected by the Financial Services Compensation Scheme, and there is little chance of receiving their money back. (The full article can be found here: https://www.thetimes.co.uk/article/dont-buy-investments-on-google-i-lost-90-000-wk0vz2q0w)
While we can’t comment on the schemes involved In Alison’s case, some companies selling unregulated financial products use misleading sales tactics, overpromise on the security and probability of investments. In many of these cases, if the company hasn’t gone bust yet, a misrepresentation claim to recover your money may be possible.
At MBM, we are one of the leading firms in Scotland who specialise in financial disputes. If you or your client have lost money as a result of an unregulated financial investment, then contact the MBM commercial dispute resolution team at firstname.lastname@example.org or on 0131 226 8200 to speak to one of our team today. We will be more than happy to have an initial no-cost chat to discuss your case and see if we can help.