Spreadbetting Firm Owes Clients GBP13m
Published / Last Updated on 18/03/2012
Spreadbetting Firm Owes Clients £13m.
Financial spreadbetting firm WorldSpreads has appointed special administrators following the discovery of accounting irregularities.
In a statement, the company said that as at close of business on Friday 16th March, the board of directors believed there was a shortfall of some £13m in clients' money.
The directors and their advisers concluded that the best course of action, in order to mitigate losses for clients, would be to place the company into special administration.