Michelle Mone's husband's company loses thousands from veteran's pensions
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dailyrecord.co.ukDozens of veterans were left out of pocket after being urged to switch safe pensions to riskier funds by a firm owned by Michelle Mone’s husband.
One 54-year-old who fought in Iraq lost £168,000 when he moved money from his final salary Army scheme to Financial Provisions Solutions, which later closed.But he could only claim back £85,000.
FPS is majority owned by Doug Barrowman’s Isle of Man business Knox Ltd. He and Tory peer Mone are under fire over the £200million PPE Medpro scandal.
The Financial Service Compensation Scheme has upheld 43 complaints against FPS, handing out £2.9million in compensation, with £85,000 being the maximum individual payout.
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