UK Couple Win £190,000 in Compensation After Mis-Sold Investment

An un-named couple from the UK have been reimbursed £190,000 after their financial advisers recommended that they invest in risky assets such as “death bonds”. The couple have asked to remain anonymous, but have agreed that the details of their case can now be made public.

The husband and wife received £190,000 in compensation relating to the mis-selling of a high risk investment after taking advice from a firm that claims to be one of the world’s largest financial advisers. The case involved them investing money and savings into a selection of highly complex and

The couple, who asked not to be named, put money in a handful of complex and hard to understand investment funds following advice from the well-known brand deVere UK. The investments that the couple were persuaded to invest in included high-risk funds that would be held in an offshore bond, a type of tax-advantaged investment.

One of the funds that their pension savings were placed into were called “death bonds”, which were in essence expiring life insurance policies.

During the legal process, it was heard that each investment fund was an “unregulated collective investment scheme” or Ucis. This is the type of high risk investment that it is now illegal to sell onto people who are not very knowledgeable of the investment markets, in a new ban coming into effect in the last 12 months.

This recent case just goes to show what can be possible if you are given bad financial advice when investing money, your savings, or even your pension. After the case, a representative of the couple was stated as saying:

“The couple are not investment experts, which is why they paid a professional to do it for them, but clearly they were put into high-risk products. This should serve as a warning for other savers that anything with the word ‘unregulated’ attached to it should be avoided.”

With recent statistics predicating that around 120,000 UK residents have already been mis-sold unregulated investments worth billions of pounds, these type of cases are only set to rise.

If you believe you have been the victim of the mis-selling of high risk investments, please do contact us today so we can help you re-claim back the money you deserve.