Investment company had vanished !!

[Nozzle]

This was an investment, not a savings account. No funds are guaranteed safe, that is the price for potentially higher returns.

How did your father come to know of, and invest in this mining company? Was it via a boiler house, via a reputable dealer, does he know a bloke who also has them, were shares publicly listed? You may be able to get your father on a very long list of creditors, but I doubt it. There'll be other interested parties who get first, second, third bite of the apple - shareholders, if indeed he was a legitimate one, aren't really on the list when it comes to liquidation.

Perhaps a lawsuit against the director personally if there is evidence of fraud, but this might well cost more than the value he has lost..

There is a phrase you'll often see on the investment forums "DYOR". This smacks of having done none.

Nozzle

 

[^woody^]

I have a Nigerian friend who will help recover lost money. Just send your bank account details so that the recovered money can be paid straight back in. In case the bank is closed, please send credit card number and last three digits on back and we'll top up the card instead.

 

[DaveHerns]

It's sad that there are people out there getting rich at the expense of your elderly vulnerable relatives.

 

[Brigadier]

It's sad that there are people out there getting rich at the expense of your elderly vulnerable relatives.

Bloody plumbers.

 

[Doggit]

But we still have a code of conduct, and we never rip off other plumbers.

 

[Nozzle]

Is he elderly or elderly and vulnerable? There's a nice bit of detail I didn't originally see....

 

[bernardgreen]

and we never rip off other plumbers

Not worth it, plumbers are never rich

 

[Doggit]

So you didn't see the article about the 34 year old guy working for Pimlico plumbers who's earning £210k pa. He gets charge out at £100 per hour during the day, and £200 at night. He doesn't work weekends, but apparently does Monday and Tuesday nights with caffeine and red bull to keep him going.

 

[transam]

mr Mullins founder of pimlicos is a multi (?) millionaire (allegedly)

 

[motorbiking]

The OP needs to look at the trail that led his Father in law to invest and the timing of the investment. Nothing in law stops you making a bad investment. Buying in to a failing company the week before it goes bust is basically on you. However, somebody took the money and "invested it". You start with them and the knowledge/expertise/authority etc, their assets, the advice given etc.

With the information provided this could be on any scale from a bad investment to fraud. Note, he may be able to offset his losses against any income tax owed. But that depends on how he invested.

 

[Nozzle]

The OP has gone quiet!

Nozzle

 

[motorbiking]

Today he's in the same boat as the rest of us. Seems there is a global sell-off going on.

 

[JohnD]

should have gone for a good European fund, when the lunatics campaigned to take over the asylum.

 

[motorbiking]

yes they clearly aren't affected

 

[JohnD]

one or two percent in one day?

just noise.

Forty-two percent up in two years?

Real growth.

https://markets.ft.com/data/investment-trust/tearsheet/summary?s=FEV:LSE