The Financial Services Compensation Scheme (FSCS), the financial service industry’s lifeboat fund, has confirmed that it is now processing claims against B&G Finance Limited (“B&G”).
The London based firm entered into administration in April following an investigation into its business.
It was found that the firm, with links to the unregulated Bassett & Gold, may have mis-sold mini bonds to its customers from around March 2018. The said bonds were mostly concerned with short-term credit lender, Uncle Buck which is now defunct.
B&G’s demise having been involved with the sale of mini-bonds follows the London Capital and Finance scandal which we commented on previously which you can find on the right.