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£16,000 Compensation for Mr S – Bank Mis-sold High-Risk Tech Fund

Background

Mr S, a 60-year-old Post Office employee on the south coast, had limited investment knowledge and was risk-averse. He held savings in ISAs and deposit accounts.

Persistent Pressure from Bank

He had been a customer with the Defendants Bradford & Bingley for 20 years. They repeatedly asked him to invest money with them. Eventually, he had a meeting with their adviser, and they recommended their product.

He just wanted an income until he received his pension. He stressed he wanted to preserve his capital. He put his £7,000 savings with them into a Technology Fund, but they lost most of his money.

Losses and Misconduct

Despite his clear preference for capital preservation, he lost most of his £7,000 savings. The bank failed to disclose commissions and misrepresented the investment risk.

Claim Outcome

We recovered over £16,000 for Mr S in compensation for lost capital and interest.

No win, no fee

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