Keydata GBP103m Missing?
Published / Last Updated on 30/06/2009
Keydata £103m Missing?
Stricken structured investment product provider Keydata cannot be sold off to potential buyers and the serious fraud office has been called in amid fears by the Administrators, Price Waterhouse Coopers, that £103million of funds may have been misappropriated.
5,500 investors in seven Secure Income plans may be told their investments have been 'misappropriated'.
Income Products affected:
- Keydata Secure Income Bond Growth (Issue 1)
- Keydata Secure Income Bond-Income (Issue 1)
- Keydata Secure Income Bond 2-Growth
- Keydata Secure Income Bond 2-Income
- Keydata Secure Income Bond 2-Quarterly Income (USD)
- Keydata Secure Income Bond 3-Growth
- Keydata Secure Income Bond 3-Income.
It is not possible at this time to surrender or encash any of these investments. If there are issues, the investors compensation scheme may now come into play.
We have not advised on or arranged any of these structured products for our clients. However, many people will have invested and we suggest that if you are worried and need help, contact us.
From what we understand, allegedly, there may have been some misappropriation of funds by overseas 'backers' of the schemes and the SFO are looking into matters.
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