Former armed force members were advised to move their money to Financial Provisions Solutions.
Multiple veterans have lost thousands of pounds after being urged to switch safe pensions to riskier funds by a firm owned by Michelle Mone’s husband.
39 of the 43 victims were ex-services personnel persuaded to transfer money from their “gold standard” Armed Forces Pension Scheme to less secure ones, which carry a risk of lower payouts. "It’s attractive as you don’t know what’s going to happen tomorrow. I transferred after I got a message from an introducer.
A spokesman said: “We have received 49 claims against Financial Provisions Solutions Limited. Six were unsuccessful, 43 were successful, and we’ve paid out £2.9million in total.” Lancaster added: “When I was appointed as a director, the company ceased providing that service and a review of all the previous reports was undertaken.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Belfast parents meet EA over concerns around SEN provisionsParents outlined several issues including delays in autism diagnosis and statements
Read more »
Michelle Mone's husband's company loses thousands from veteran's pensionsToday's front page leads on a pension firm linked to Michelle Mone's husband being shut down amid claims dozens of military veterans lost thousands of pounds. scotpapers Read More:
Read more »
Bank of England to stress test risks in non-bank financial markets\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »
A Recession Is Widely Expected. Here's How to PrepareSpeculation about a potential recession has plagued much of 2022, and is now seen as all but inevitable in 2023. Here are five steps that financial experts recommend to prepare for a recession
Read more »
Permission sought to turn former pub and listed building into flatsA report highlighted that the upper floors of the pub were historically used as accommodation
Read more »
Surf a magical archipelago in Wavetale, a former Stadia exclusive coming to SteamExplore the stories of a magical sea in an action-adventure 3D platformer.
Read more »