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Barclays Fined £7.7M And To Repay £60M For Ripping Off Customers

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Barclays ordered to pay almost £70m over mis-sold investments
Richard Evans, 11:02, Tuesday 18 January 2011
Barclays (LSE: BARC.L - news) has been ordered to pay compensation of up to £60m to customers sold unsuitable investments. It has also been fined a record £7.7m.
The Financial Services Authority imposed the penalties after finding "serious failings" in the way the bank had sold two investment funds to customers, many of whom were retired or nearing retirement.

FSA have to be seen to be doing something. Catch the minnow and let the sharks go free.

Edited by Realistbear

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Mis-selling. Such a nicer word than fraud isn't it? Here she is Miss Selling 2011 in her bathing suit....

The interesting thing is when people on IO mortgages start realizing that they will never pay the loans off...

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The couple's plan to hoax insurers and pension schemes into believing Mr Darwin was dead was hatched as the couple faced losing their imposing seafront home in Seaton Carew, Hartlepool, in 2002. They had a 12-home property portfolio and were struggling to make mortgage repayments when he paddled into the sea in his home-made canoe and then disappeared.

Remember this cooked BTL sod? Jail time for ripping his insurance company for a few thousand. A small fry compared with the banksters at Barclays and the thousands of lives they have ruined and ar about to ruin.

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  • 311 Brexit, House prices and Summer 2020

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      • down 5% +
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      • Even
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