Husband-and-wife investors in the fraudulently-operated Imperial Consolidated Group have won a judgment for their full loss of £500,000 (US$924,769) against an independent financial adviser. The IFA, Caroline Ockwell & Co., was found to have been negligent in recommending an unregulated offshore investment fund offering a 15 per cent annual return to retired British farming couple Edward Arthur Seymour and Pauline Mary Seymour. However, Ockwell is only liable for one-third of the judgment after it secured a judgment for two-thirds of the award against financial services firm Zurich IFA Limited, whose Isle of Man office recommended the investment product to Ockwell.
Imperial victims obtain judgment against financial adviser
19 years ago