As we reported April , British P2P lender, the Financial Services Compensation Scheme , has ceased operations due to “questionable practices” by its management. Only one firm, Zopa, existed during the 2008 crisis credit crisis but no savers lost money, it claims. Now we learn that all remaining capital ( at least £21m ) has been frozen and Swedish investors have no recourse to TrustBuddy (FSCS) if they cannot regain access to the frozen funds.
As we reported April , British P2P lender, the Financial Services Compensation Scheme , has ceased operations due to “questionable practices” by its management. Now we learn that all remaining capital ( at least £21m ) has been frozen and Swedish investors have no recourse to TrustBuddy (FSCS) if they cannot regain access to the frozen funds.