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.”
France Dernières Nouvelles, France Actualités
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