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Wednesday, January 24, 2007

Financial Brokers Exposed

The Publican warns of two financial brokers who are scamming licensees:

"Gateway and Funds4Business, the brokers exposed by The Publican after ripping off licensees, are making it onto TV.

BBC South’s investigative programme Inside Out has been looking into their director Gary Thomas, and has interviewed victims of the financial broker.

The Publican unveiled the company in February 2005 following investigations, which revealed that licensees were left out of pocket after loans promised by the company failed to materialise. The company was also the subject of an investigation by The Mirror, following The Publican’s investigations.

Licensees claimed they had been promised a loan or mortgage, paid an administration fee of £350 and had not received the deal they have been promised.

Some have even paid arrangement fees of nearly £2,000 while others have paid for a valuations costing up to £1,600 and have still not been provided with the deal they were promised.

The programme will be shown on BBC 1 South Friday, January 26 at 7.30pm

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