TWO directors of David M Aaron - the independent financial adviser firm which was banned for issuing misleading literature on high-income "precipice" bonds - are now promoting venture capital trusts (VCTs), according to this morning's Times .
Michael and Stephen Aaron, sons of David Aaron, have created Palladium Solutions and are now inviting VCT firms to be included in an industry investment guide for a fee of around £30,000, says the Times. The FSA has banned David Aaron, the firm, from trading following its collapse amid allegations of precipice bonds mis-selling, however, the directors behind the firm were not banned so there are likely to be fresh calls for its directors – including the two brothers – to be banned too. The Times quotes one of its sources as saying: ““They are telling VCT providers ‘we will produce and...
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