Yorkshire Bank has "serious questions to answer" over failed property scheme Arck LLP - now under investigation by the Serious Fraud Office (SFO) - which left investors millions of pounds out of pocket, an MP has said.
Labour MP Paul Goggins told the Commons that hundreds of investors had placed a total of £60m in savings and pension funds into a "segregated" account at Yorkshire Bank for the unregulated investment scheme with Arck. When Arck went bust, lawyers called in by a group of the investors found there was only £25 left in the account. Lawyers acting for 150 claimants have now filed claims against the Yorkshire Bank for allegedly failing to protect their money, according to the Yorkshire Post. Goggins, MP for Wythenshawe and Sale East, called on Treasury Ministers to do all they can to en...
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