Wednesday, March 31, 2010

Mini-Madoff

Lancashire adviser jailed for 5 years for defrauding clients

Swindled clients out of £600,000 to fund gambling habit. Nice chap.

Posted by cyril @ 10:37 PM (429 views)
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4 thoughts on “Mini-Madoff

  • Just goes to prove that we Tykes are right when we say:

    The only good thing to come out of Lancashire is the road back to Yorkshire.

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  • Agreed Ant.

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  • Enoughalready says:

    Someone I know in the Cardiff/Vale of Glam area is buying a second home (interest only). He is doing this while already having an interest only mortgage on his first property. Consequently, he is buying the second home and will be renting out his first using TWO Halifax backed RESIDENTIAL mortgages!!!!!! (You’re only allowed one, apparently).

    “They don’t care.” He said, when I asked how this came about. “Halifax, don’t want to know. They (or at least his ‘financial adviser’) know I’m going to be renting out one of the properties, but it would cost me more to have a btl mortgage, so they let me have another residential one!”
    WTF is going on? No doubt when it all goes t–s up, they’ll be expecting the likes of us to pay up to compensate them for bad “advice”.

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