London Capital & Finance fiasco

LizHL · 11 Dec 2020 at 23:06

You didn't know my mother. Yes, very sensible, but lasting power of attorney, not a chance.

Son didn't know he was posting a 70k cheque, just a letter as demanded by my mum. He just remembers she was proud as she had called them and they would accept a cheque, no big issue at the time

It was Adam, my son, however, who pleaded with me to take her laptop off her, as he felt she was making bad decisions. I said I could not take it off her, but turned out he was right

As she sent a cheque 5 months before they went into administration, for 70k, and they must have clearly known they were going under, that is why it is so upseting. They will get away with it in mum's case and she died hiding it from us. There should be compensation for the upset this has caused, but money means nothing.If I could say to mum on her death bed, it really does not matter mum, you are worth a million times more than them. You got your estate through honest means. If I could bring her back for one moment just to say that, that is all I would want. She died after living a more than honest life, feeling she had let us all down.

LizHL · 11 Dec 2020 at 23:25

Theophany said:
It was an absolute scam and it's a travesty that the FSCS has decided to cover peoples' losses in it.

Only if it was through a financial advisor, not finding it on the internet and sending them money. Mum's 70k is lost, we have no come back

LizHL · 11 Dec 2020 at 23:29

Not sure how this forum works, but thanks Theophany. Have sent you a message. I work in an FCA regulated industry, and will be working tomorrow, but will try to catch up and thanks again

Theophany · 12 Dec 2020 at 00:35

LizHL said:
Only if it was through a financial advisor, not finding it on the internet and sending them money. Mum's 70k is lost, we have no come back

Not strictly true, a lot of the direct sales are being covered by the FSCS because they misled investors into thinking it was advice when it wasn't. There might be scope for your mum's case.

taB · 12 Dec 2020 at 15:18

Theophany said:
Please don't feel obliged to post in every thread you open, tia.

I don't. I mean the post count is pretty clear on that.

LizHL said:
You didn't know my mother. Yes, very sensible, but lasting power of attorney, not a chance.

Son didn't know he was posting a 70k cheque, just a letter as demanded by my mum. He just remembers she was proud as she had called them and they would accept a cheque, no big issue at the time

Fair enough, a real shame.