FSA warming my wee - what can I do?

FSA warming my wee - what can I do?

Author
Discussion

bigandclever

Original Poster:

13,924 posts

244 months

Friday 18th June 2010
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Long story short... about 18 months ago I put a significant amount of cash into an investment scheme created and run by my accountant. Two months later the FSA got wind of this scheme, worked out the accountant wasn't authorised to run such a scheme and seized the funds in the scheme's bank accounts. In effect, the FSA have had my cash (and that of about 300 others - £8 million worth) for about 15 months. To be fair, I'm glad they did - benefit of hindsight, it was a Ponzi setup.

Today was supposed to be the date at High Court to distribute the funds back to the investors. And the FSA *again* have said "Ooh, we think we might have got the calculations wrong, we need to postpone for another month". This has happened 3 times now.

Is there anything I can do to kick them up the arse? I know as an organisation they're being binned, but this has dragged on for far too long and I'm fed up.

leona

1 posts

172 months

Friday 18th June 2010
quotequote all
Hello,

I'm having a very similar problem; I suspect I transferred large amounts of money to un unregulated company but I'm having some issues to get the FSA involved...Any tip?