3103 days ago
You will remember how broker WH Ireland (WHI) mugged poor Essex pensioner Mr Bagot, destroying his life savings by stuffing him into duff penny stocks, often corporate clients? Apparently it thinks it has acted honourably and the matter is at an end. Oh no. This scandal (full details HERE) is far from over.
3166 days ago
Over the past two weeks we have unearthed details of how senior WH Ireland (WHI) Stockbroker John Molyneux (now suddenly retired) systematically stiffed those with discretionary accounts into duff penny stocks, usually corporate clients. So far one 78 year old who lost c£330,000 has been given compensation of £150,000 – but this may be the tip of the iceberg. So I have written to Business Secretary Sajid Javid asking him to intervene urgently.
Dear Sajid
3168 days ago
Yesterday we outed Mr John Molyneux as the WH Ireland stockbroker who had mugged 75 year old pensioners by sticking the cash from discretionary accounts into penny stocks – usually WH Ireland corporate clients doing a fund raise – which had nearly all cratered. I can reveal that Mr Molyneux has now decided all of a sudden that at 68 it is a good time to retire. With immediate effect. But if he and AIM listed WH Ireland (WHI) think this scandal is over they are mistaken. It is just beginning.
Because, while one 78 year old couple has taken their mugging up with the Financial Ombudsman and got back just under half of their losses (£150,000) we are fully aware that this was not an isolated case.
3171 days ago
On Sunday I discussed how AIM listed stockbroker WH Ireland (WHI) ripped off a 78 year old pensioner for more than £500,000 but has only compensated him for £150,000. A WH Ireland spinmeister says that the actual loss for the poor defrauded pensioners was only £329,750. But the PR operative was less forthcoming when questioned about a swarm of other scandals.
First we deal with the fellow at WH Ireland who managed the discretionary account for these poor vulnerable old folk, shafting them by sticking nearly all their cash into AIM, Plus and unlisted penny stocks most of which cratered and most of which were WH Ireland corporate clients. I put it to WH Ireland that the pensioners who took action were just the tip of the iceberg – the chap responsible, Mr John Molyneux, has abused a number of other discretionary clients in exactly the same manner.
A responsible firm
