Tuesday 11 May 2021
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.theguardian - 21 days ago

UK taxpayers face £120m compensation bill for LC F scandal

Government announces payouts for almost 9,000 people who invested in defunct London Capital Finance
Taxpayers face a £120m bill for compensating thousands of people who lost money in the London Capital Finance (LC F) investment scandal after they were “let down” by UK regulators.About 8,800 people who invested in the defunct firm – some of whom put in their life savings – are due to receive an average of £13,600 each after the government set out details of an official compensation scheme. Continue reading...


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