Is the return of 8% on your & # 39; savings & # 39; really just a complex fraud? This is Money podcast lifts the lid on mini-bonds and other modern City investments
As we quickly approach a fifth of the way through the 21st century, the world of finance is modernizing in a way that was unthinkable a few years ago. And not always in a good way.
The language of & # 39; save & # 39; has evolved into dishonesty and even fraud.
On this week's podcast editor, Simon Lambert and reporter George Nixon take host Georgie Frost to look at new, innovative Innovative Finance Isas, savings products that claim to offer an 8% return and that are protected by the official savings watchdog, but which are in fact risky investments – and the fraud investigation at London Capital and Finance, where thousands & # 39; savers & # 39; millions of euros & # 39; s lost.
Simon guides listeners through the dark side of mini-bonds and the complex web of companies that deposited savings money at LC and F before it collapsed with £ 236 million. The city guard dog who supposedly oversees the company is now also being investigated.
In a more cheerful way, George explains how teenagers can invest in the stock market and how easy it can be to get started, plus a few new free stock trades, an old-fashioned holiday trap and whether insurance companies would pay if your flash car accident occurs on video and on social media.
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