What makes an investment too good to be true?
Money Box
BBC
4.2 • 825 Ratings
🗓️ 26 January 2019
⏱️ 25 minutes
🧾️ Download transcript
Summary
Administrators have been appointed to the Dream Lodge Group leaving people, some of whom invested hundreds of thousands of pounds in the luxury holiday park lodge business, at risk of losing most if not all of their money. In return for their cash they were promised an 8% return on their investment plus a guaranteed buy back of their capital. In a statement to Money Box administrators Deloitte said "The best outcome for everyone would still be a sale of the business and we will formally report our progress on that and any other matters in our creditors report in mid-March. We appreciate this will be a difficult time for many people affected by the administration of the business.” What are the signs that an investment opportunity is too good to be true? Guest: Farhaz Khan, Secretary of the Financial Services Lawyers Association.
The European Health Insurance Card, or EHIC, gives people from the UK the right to access state provided emergency care while temporarily staying in another European Economic Area country or Switzerland for free or for a reduced cost. Tamara Hervey, Professor of EU Law at the University of Sheffield explains what happens to the EHIC post-Brexit.
The cash machine network Link will pay a 'super premium' to ATM operators in certain remote areas from April. It hopes the subsidy of up to £2.75 per withdrawal will keep machines free to use. Guest John Howells, CEO of Link.
If you’ve signed up with a credit rating agency to get alerts whenever your file is accessed, what can you do if you discover a company you've never heard of has searched your details? Guest Lisa Hardstaff, Head of Customer Experience at Equifax.
Presenter: Paul Lewis Reporter: Dan Whitworth Producer: Charmaine Cozier Editor: Richard Vadon
Transcript
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| 0:00.0 | In Northern Ireland, from the late 70s to the early 90s, the IRA killed over 40 alleged informers. |
| 0:08.0 | But the man who often found, tortured and sometimes killed these people on behalf of the IRA |
| 0:12.0 | was himself an informer, a secret British army agent with the codename Stakeknife. |
| 0:18.0 | Who gets to play God? And why me? Why my family? When lies are still being told to this day, |
| 0:24.0 | who do you believe? I wouldn't even know where to start and I'm with the IRA. |
| 0:28.5 | Steakknife. Listen first on BBC Sounds. |
| 0:33.5 | BBC Sounds, music, radio, podcasts. Hello, in today's program, the dream lodges that could turn into nightmare losses for investors. |
| 0:43.8 | Will your European health insurance card, the EHIC, be worthless after we leave the EU? |
| 0:49.3 | The link network that runs the UK's cash machines says banks must pay more to keep ATMs open where they're |
| 0:55.8 | needed. And who's been quietly checking on your financial circumstances what your credit file |
| 1:01.3 | tells you about the money snoopers? But first, how does this sound? An 8% return on your investment |
| 1:08.4 | followed by a guaranteed buyback of your capital. |
| 1:12.1 | Too good to be true? Well, it probably is, but that doesn't stop people falling victim to smooth-talking operators, |
| 1:18.6 | working for companies who take their money and lose it all. |
| 1:21.7 | Moneywatch reporter Dan Whitworth's here and has more on this. |
| 1:24.7 | Well, one of the companies offering the seemingly great deals, Paul, was |
| 1:28.1 | Dream Lodge Group, up until two weeks ago, that is, when the luxury caravan park operator went |
| 1:33.9 | into administration. Now, we've been told by the administrators at Deloitte that hundreds of people |
| 1:39.4 | have contacted them, worried they've lost anything from thousands of pounds to more than |
| 1:43.7 | £100,000. It was offering 8 pounds to more than £100,000. |
| 1:45.7 | It was offering 8% each year for three years, as well as a guaranteed buyback scheme at the end of |
| 1:51.5 | the period. Well, Diana's brother Rob, who died in a car crash last summer, was one of those who |
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