The Financial Ombudsman Service told Money Marketing that it currently has 220 open complaints related to Basset & Gold (B&G).B&G issued mini-bonds which were sold to retail consumers. The firm was placed into administration on 1 April 2020.
The Financial Ombudsman Service (FOS) currently has 254 complaints against Gallium Fund Solutions Limited (Gallium). This was revealed in a Freedom of Information (FOI) request submitted by Money Marketing on 16 December 2021.
Investors who lost millions of pounds when mini-bond firm Basset & Gold failed last April are fighting for compensation for what they feel were mis-sold investments.
Some 170 bondholders who invested money between February 2017 and 2018 have complained to the Financial Ombudsman after claiming they were fobbed off by the company supposed to check-up on the failed firm s adverts.
However, they have accused the Ombudsman of continuing to dilly dally and make excuses , with some investors saying they have waited for months to hear from it.
Basset & Gold sponsored West Ham United football club before it went bust in April 2020 costing investors £35m