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Gibberish, jibberish, jibber-jabber, and gobbledygook refer to speech or other use of language that is nonsense, or that appears to be nonsense. PopCornMovie.Org only provides links to other sites on the internet and doesn't host any files itself. If you have any questions please feel free to contact us. You can watch cartoon movies online for free with proper English translation. Share this Rating. Title: Hoodwinked! (2005) 6.5 /10. Want to share IMDb's rating on your own site? Use the HTML below. 'I stand to lose £83,000': How the City's 'policeman' failed to protect savers hoodwinked into an investment scheme. By Jeff Prestridge, Financial Mail on Sunday.

How the City's 'policeman' failed to protect savers hoodwinked into an investment scheme. Two hundred savers offered premium interest rates through a firm of financial advisers, only to see their money disappear as a result of alleged fraud, have been left out in the cold. Their dire financial predicament – which could see many of them lose lifetime savings approaching £1. City’s policeman, the Financial Conduct Authority. The company at the centre of the alleged fraud, Aberdeen- based Midas Financial Solutions (Scotland), was until recently part of Sense Network Limited, a firm of independent financial advisers authorised by the City regulator.‘Devastated’: Oil and gas engineer Alex Lucas stands to lose the £8.

Dealing with an authorised firm means investors should have financial protection if things go wrong. This could be compensation if the adviser firm collapses or recourse to an arbitrator in the event of a disputed complaint. But loosely worded City rules, say experts, are enabling firms such as Sense not to take financial responsibility for parts of their business operations where customers have been hoodwinked into savings and investment schemes they should never have been offered.

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In such cases, customers have little chance of getting back their money other than by pursuing expensive legal action.‘Such unregulated investment schemes, sometimes promoted by regulated companies, are a menace and a plague,’ says Paul Crutchley, a solicitor with Birmingham- based law firm Regulatory Legal. We need greater scrutiny of this area to prevent yet more investors falling victim to financial sharks.’Midas Financial Solutions offered customers the opportunity to enjoy preferential savings rates from the Royal Bank of Scotland by putting money on short- term deposit – terms typically ranging from ten weeks to a year. Once the term came to an end, savers were then offered a new deal – and most people duly rolled their money over into it. The rates offered were attractive enough to persuade savers to keep their money with Midas – without being so spectacular they would raise suspicion they were too good to be true.

Unregulated investment schemes are a menace and a plague. Savers were comforted by the fact that all savings accounts offered by mainstream banks and building societies are protected by the Financial Services Compensation Scheme – up to £8. Also, most users were longstanding Midas customers – having bought investments and taken out mortgages through the firm – and so had no reason to suspect anything was awry. For example, in December 2. The deposit scheme was long- standing – and some savers used it successfully, earning interest and then withdrawing their deposits.

But last month, those with money tied up in the scheme were contacted by Police Scotland’s economic crime unit in Aberdeen. They were told Midas’s short- term deposit scheme was at the centre of a criminal investigation.‘Sorry’: Sense’s Steve Young. They were informed Midas had never been authorised by the regulator to accept deposits, was therefore conducting unregulated business, and so scheme members were not ‘afforded the protection provided by regulated products, including recourse through the Financial Services Compensation Scheme’.

Some savers, primarily fishermen and oil and gas workers, who have spoken to the police have been told to expect pennies back, not pounds. Alex Lucas, 3. 8, is one of the savers to get the bombshell of a letter from the police. Like many victims, his relationship with Midas goes back a while – to 2.

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Aberdeen.‘All the advice I got was good,’ he says. It also sorted out insurances and investments for me. I couldn’t have been more impressed.’In 2. He was assured at all times by Midas that his deposits were with the Royal Bank of Scotland and therefore protected by the FSCS. In late June this year, he had £8. Astutely, or so he thought, his savings would remain within the £8.

FSCS protection limit. In a letter dated June 2.

Alistair Greig, a director of Midas, thanked Alex for his business and said he would be contacted again in late September. He wasn’t. Unbeknown to Alex, who is single and now works in Denmark as an oil and gas engineer, Sense had terminated its business relationship with Midas in August. Sci Fi Thriller Cartoons A Charlie Brown Valentine. This, Sense says, is because it had become ‘suspicious’ that ‘some individuals within Midas had become involved in unauthorised business activities’ – unlawful under City rules. Sense then alerted the regulator which conducted its own investigations, triggering the Police Scotland criminal probe.‘When I got the police letter, I thought it might have been a speeding ticket for when I was last back in the UK,’ says Alex. I couldn’t believe what I read when I opened the envelope.

I’m devastated.’Sense is a financial adviser network that provides independent financial advice through 7. Midas was one. Like all networks, Sense deals with regulatory issues on behalf of its businesses, enabling the representatives to concentrate on serving clients and generating new sales leads. It also arranges insurance for the financial advisers, protecting them against costly customer complaints. Investigating: The Financial Conduct Authority said Midas was an ‘ongoing’ situation with the police investigation taking priority over its own probe Though the City regulator requires operators of financial networks to ensure appointed representatives are not breaching its rules, Sense maintains it has no responsibility towards those like Alex caught up in the scandal.

Last week Sense chairman Steve Young told The Mail on Sunday that as network provider, it had no responsibility – regulatory or morally – for the losses savers had incurred. He said: ‘We never authorised Midas to conduct deposit taking and the scheme was deliberately concealed from us.’He said that he felt ‘very sorry’ for those savers caught in the scam but believed the best route for them was now through the police. He added that Sense had conducted all the checks on Midas required of it under financial services legislation – and that the network is not being investigated by either the regulator or police.

However, Young’s words don’t wash with Alex. He holds Sense responsible for failing to ensure Midas was acting within the letter of the law. He has asked Regulatory Legal to see whether a claim through the courts might be successful.

On Friday, Police Scotland told The Mail on Sunday: ‘We are advising investors to be realistic that their money is not where it should be. We are carrying out enquiries that will hopefully find something but we cannot give any guarantees.’Royal Bank of Scotland failed to confirm whether Midas did indeed operate a deposit account through it. The Financial Conduct Authority said Midas was an ‘ongoing’ situation with the police investigation taking priority over its own probe. Midas’s offices in Aberdeen, meanwhile, are closed.

The Financial Ombudsman Service would not comment on Midas. But it said: ‘It’s not always clear what rights you have when you’re in dispute with a financial business.‘Though regulations and laws give you a huge number of rights – including going to the Ombudsman – there are gaps that mean some activities and firms aren’t covered.‘Disappointingly, sometimes smaller financial businesses are regulated for some things (selling you investments) but not others – holding money deposits or drafting wills.‘So if they mislead you into handing over your money for something that’s not regulated, you should report them to the regulator. On rare occasions these actions can be considered criminal if the police or regulator launch an investigation, so you should notify the police if you think someone has tried to defraud you.’Anyone with information on the deposit scheme offered by Midas should contact Police Scotland on: scdeconomiccrimeaberdeen@scotland. Regulatory Legal can be contacted on 0.