First it was the Daily Mail and now it is the Daily Telegraph that has taken up the cudgels on behalf of Essex pensioners Mr and Mrs Bagot who were completely robbed by AIM listed broker WH Ireland (WHI). This scandal is growing and could bring WH Ireland to its knees as I have already flagged up HERE. The Telegraph today gives us full details of the scale of the mugging. It is awful.
Between 2006 and 2012 WH Ireland discretionary fund manager James Molyneux invested £985,138 for the pensioners. Given their age this should have gone into safe blue chips. Instead it was spunked away on 45 different stocks mostly on AIM, ISDX or not even listed. By 2012 that portfolio was worth just £421,980 – 14 of the 45 companies had gone bust.
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