German pensioners who lost $4m in savings in a Florida property investment scheme reportedly kidnapped and tortured the financial adviser responsible.
Four investors - all aged 60 or over and dubbed the ‘Geritol Gang' in honour of an arthritis drug - allegedly subjected German-American James Amburn to a harrowing six-day ordeal. The chief public prosecutor in the case said the quartet were "very angry" at having lost cash invested in Amburn's investment company, Digitalglobalnet. Ziegler described the money as coming from the "black" economy, meaning it hadn't been declared to the German revenue authorities. Amburn was first ambushed outside his Speyer home by two of the investors on 23 June. He was allegedly bound with tape a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
