The Silent Epidemic of Financial Misconduct

In response to the devastating wave of financial misconduct sweeping the UK, a campaign group is demanding a full-scale public investigation. The Transparency Task Force, organisers of the “Enough is Enough March for Justice,” marched from the Royal Courts of Justice in a demonstration uniting victims of this pervasive problem.

The campaign advocates for a formal inquiry into the UK’s financial misconduct crisis, along with fairer tax policies for those who fall prey to these schemes. Victims from a wide range of scandals, including the infamous Woodford collapse, pension scams, fraudulent investments, and banking misconduct, came together in solidarity.

“This must end. Countless lives in our nation have been shattered by the relentless onslaught of financial fraud and scams,” declared Andy Agathangelou, founder of the Transparency Task Force. “Though a staggering 40% of reported crimes in the UK fall under the fraud category, a mere 2% of police resources are dedicated to tackling this issue. This stark imbalance demonstrates that authorities are not taking this crisis with the seriousness it demands.”

Agathangelou urged those in power to heed the cries and recognise the desperation of those on the edge of ruin due to the consequences of financial misconduct.

Financial adviser Jeremy Cornfield expressed his outrage at regulated professionals becoming the very architects of financial scams, calling it a disgrace to the industry. “I became an adviser to guide clients with honesty and integrity,” he said. “To witness colleagues betray those principles for personal gain is a shameful violation of trust.”

Cornfield shared the heartbreaking tales of victims from every corner of society, highlighting the far-reaching consequences of financial misconduct. “This doesn’t just impact the individual – it leads to shattered relationships, mental health crises, homelessness, bankruptcy, and a devastating loss of hope. People are defrauded of their hard-earned money, and it’s inexcusable.” He noted that many of these victims are now pursuing claims against financial advisers who led them astray.

The march also drew support from former Premier League footballers, including Manchester United’s Andy Cole, who have themselves been victimized. Craig Short, an ex-player turned coach, spoke passionately about his work aiding defrauded players, safeguarding future generations, and supporting financial advisor claims. He paints a grim picture of financial predators lurking around his club, seeking potential targets.

“This march sheds light on a hidden crisis wreaking havoc on ordinary people, sometimes leading to unimaginable tragedy,” stated Short. “Financial wrongdoing is rampant throughout the UK. We stand in unwavering solidarity with the victims, demanding change.”

Original Source – https://www.ftadviser.com