Global Food Tech Inc (iPura) Shares

Malthusian

phil6666 wrote: »

I doubt I will ever see a return and this has put me off all deals in stocks and shares.

The vast, vast majority of retail investors invest in stocks and shares via mainstream diversified regulated funds, while taking advice from intermediaries authorised to provide advice in the UK by the Financial Conduct Authority (if they need it). Consequently their investments are spread across hundreds or thousands of shares, and there is negligible risk of permanent loss in the long-term. Provided they do not panic, borrow to invest or fail to diversify properly.

Very few people deal in stocks and shares by doing what you have done and investing all their money in a single ultra-high-risk investment on the strength of a cold call from an unregulated outfit.

While this is of very little comfort to you, saying that you won't invest in the stockmarket is a bit like crossing the road with your eyes shut, being hit by a car and then saying you'll never cross the road again. The road wasn't the problem.

The money is almost certainly gone, but you should consult a regulated solicitor to find out whether there is any realistic prospect of obtaining redress from Morgan Young. Beware of throwing good money after bad. Even if you won a judgment against Morgan Young, your ability to obtain redress depends on whether they have any assets that can be accessed by the courts.

Reaper

Malthusian wrote: »

The money is almost certainly gone, but you should consult a regulated solicitor to find out whether there is any realistic prospect of obtaining redress from Morgan Young.

I wouldn't bother. Solicitors are expensive and Morgan Young appear to be a boiler room outfit hiding behind virtual offices and even managed to get evicted from those which takes some doing.
http://www.thisismoney.co.uk/money/news/article-1529385/Share-scam-trades-on-Wall-Street-name.html

P.S. If the firm's name is actually Morgan Young Financial Consultants then there is a warning out about them:
https://www.fca.org.uk/news/warnings/morgan-young-financial-consultants

phil6666

I tend to agree with Reaper I wouldn't bother with a solicitor, good money after bad. As far as crossing the road with my eyes shut I think the analogy is out of place. But thank you for your interesting comments