The Financial Services Compensation Scheme (FSCS) has declared former IFA Bentley-Leek in default and said it will aim to compensate customers within the coming six months.
Bentley-Leek, which was under investigation by the scheme over the past months, had been placed into creditor's voluntary liquidation in November 2011 following a spate of collapsed property deals that were backed by Bentley-Leek Properties and Bentley-Leek Properties International and advised on by the IFA.
The FCSC will start processing claims against the firm this month and has invited new customers, who have not yet placed a claim, to come forward.
Elsewhere, the FSCS also put out a warning this morning about Switzerland-based Cybertrust FX, a firm that "claims to be part of the scheme but is not". It said the firm was not UK regulated and FSCS did not protect its customers.
Caring for children and elderly relatives
Similar to June 2007
Square Mile’s series of informal interviews
Fine reduced to £60,000
Two roles created