Cyprus News | LM Investors Likely to Lose Investments

WITHOUT PREJUDICE

Cyprus News | LM Investors Likely to Lose Investments

It is now looking increasingly unlikely that those in north Cyprus who invested with LM Managed Performance Fund will see any significant amount of their initial capital invested returned to them.

It also highlights how alleged wrong doers try to hide behind Libel writs. It is sad when those trusted with people’s savings try to use the law to muddy the waters. I do not know if any wrong doings have been committed here, but surely the answer is for an honest man is to answer his critics, not silence them. Simple common sense tells us that.

“Peter Drake brought defamation proceedings against this author and the publisher last year, claiming among other things that we had imputed that he was greedy and had overcharged his investors.” [www.smh.com.au]

I am told that many ex-pats all over the world, and many Australian pensioners, have been affected by the situation at LMI. I feel for them all. Yes it was offering a high yield to investors, but since most invested through intermediaries, they had a right to expect those intermediaries knew their stuff. There again, no one can force you to do something you do not want to.

But the old adage still stands. “If it walks like a duck, & it quacks like a duck…. IT’S A FREAKIN DUCK!”

Pandora S Box

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