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Couple have £1.2million in Iceland (IofM branch/not protected)
PasturesNew
Posts: 70,698 Forumite
Merge if appropriate. Just thought it was worth flagging as a "who had money there then" link
"A couple who put £1.2m from the sale of their family business into an Icelandic bank fear they have lost the money.
The cash was Darren and Ruth Johnston's proceeds from the sale of one of north Wales' biggest caravan parks, Winkups at Towyn, Abergele, in Conwy county.
The couple, from near Denbigh, invested the money in an offshore bond which was placed in an Isle of Man subsidiary of a failed Icelandic bank."
http://news.bbc.co.uk/1/hi/wales/7679366.stm
"A couple who put £1.2m from the sale of their family business into an Icelandic bank fear they have lost the money.
The cash was Darren and Ruth Johnston's proceeds from the sale of one of north Wales' biggest caravan parks, Winkups at Towyn, Abergele, in Conwy county.
The couple, from near Denbigh, invested the money in an offshore bond which was placed in an Isle of Man subsidiary of a failed Icelandic bank."
http://news.bbc.co.uk/1/hi/wales/7679366.stm
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Comments
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Serves them right. £1.2M in a single bank account. OFFSHORE?!
What in gods name were they thinking?Savings
£14,200 with £1100 M.I.A. presumed dead.0 -
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Isle of Man very upset by Mr Brown and crew. Just goes to prove you can never win in government, some hail you as saver saviours, others as fools who acted too quickly.
http://news.bbc.co.uk/1/hi/world/europe/isle_of_man/7679441.stmIn memory of Chris Hyde #8670 -
If they are with an Isle of Man branch, I think they will still have a leg to stand on.0
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Serves them right. £1.2M in a single bank account. OFFSHORE?!
What in gods name were they thinking?
For Gods sake have a heart! :mad:
One day you may make a mistake and hopefully people won't adopt your attitude to your misfortune!
TBH you sound like someone who hates anyone who is successful and has more cash than yourself!0 -
Do you think we will see the first Icesave suicide soon? This is terrible to lose so much,all that you have worked for, stolen and gambled away.0
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the Iceland story seems to have gone "cold...."0
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Serves them right. £1.2M in a single bank account. OFFSHORE?!
What in gods name were they thinking?
Now that's not very nice is it...
They may have made a silly mistake but I hardly see how that serves them right. They didn't commit a crime or anything, they just saved some money.0 -
The main reason for opening an offshore account is because you are a UK citizen living overseas.
However in this case it is a couple living in Wales who sold a caravan site in Wales.
If the money went offshore for some valid reason then I feel sorry for them. But if it was simply to evade paying tax on the interest then I see no need for the taxpayer to bail them out.0 -
£1.2 million? Ouch! :eek:
Although in hindsight these was a really dumb thing to do, I can't help but feel some sympathy for them.“Money is not the most important thing in the world. Love is. Fortunately, I love money.”0
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