A retired widow received £500,000 from a life insurance payout following her husband’s death. She left the money with her bank, who later arranged a transfer to a high-yield hotel investment scheme in Cape Verde. The scheme was unregulated, and it failed within 18 months.
The bank had not followed regulatory guidance to check the source and suitability of the investment, nor did they assess the client’s vulnerability.
Through legal action, the client recovered the entire £500,000, holding the bank accountable for its role in enabling the scam.
Worried you may have been a victim of investment mis-selling?
Reads about a similar story involving one of our clients, visit our Investment Claims pages or you can schedule a no-obligation call with one of our team to see if you may be eligible to make a claim.
