'I told him not to invest, but he did it anyway'

Mike Horseman tried his best to dissuade his client from investing £100,000 in the tax-advantaged technology investment scheme, known as Innovator One. The Cockburn Lucas managing director had done the due diligence and it was more than just instinct that told him the money was at risk. The client, however, disagreed. "He placed the deal through us but we disclaimed it by saying it was not on our advice," Horseman explained. "We made the client sign a declaration [stating he] was acting without our advice on the basis we felt it may blow up." And blow up it did, with the client los...