Three investors were encouraged to put their pension savings into "risky, unregulated" funds, according to a BBC Radio 4 report, and have since struggled to get their money back.
On Radio 4's consumer affairs programme, You & Yours, three consumers had reportedly moved their savings from secure UK pension schemes to overseas investments following advice from Prague-based firm Square Mile International Financial. The first victim, Stephen Sefton, invested £415,000 following advice from one of the firm's directors David Vilka. According to the report, he agreed to go into an overseas pension scheme before being invested in two funds - Blackmore Global and another fund in Malta. When Sefton was unable to find the exact value of his stake in the fund in Malta, he ...
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