After losing his entire pension and life savings to a scam, a man from County Down has managed to recover almost all of his stolen money with the help of Trading Standards. The victory is one of the largest cases recorded by the Financial Ombudsman. According to reports, the retired public servant took part in what has been described as a sophisticated cryptocurrency scam, which left him penniless. The victim, who has remained anonymous, invested a six-figure sum and had started with £200. He received strong advice to invest in his pension, only later realising it was a scam and that he had lost everything.
Mark, as the victim has been named, pleaded with the suspected fraudsters to return his money, warning them that his daughters would suffer if they didn’t. Mark persisted with efforts to recover his money for almost two years, aided by Trading Standards. After several rejections, his persistence paid off.
Remarkably, Mark credits the support and guidance he received from Trading Standards with being “priceless”, and urged anyone in similar circumstances to take their case to the organisation. He advises others to keep all documentation and detailed notes of meetings, conversations and correspondence.
Fortunately, the bank was able to repay the money once it had become aware of the fraud. Damien Doherty, chief inspector of Trading Standards in Northern Ireland, welcomed the outcome, but he also exposed the limitations of the current system. While the bank refunded the stolen amount, no consequences fell on the scammers themselves. Mark’s only wish is that they will be caught and made to repay their victims
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