Investors in a property firm are on the brink of financial ruin and face homelessness after the group reneged on its interest payments and pressured them to waive rights to withdraw their cash.
DIY savers put more than £50m into high-risk loan notes with The High Street Group, attracted by the promise of 12pc annual returns and 22pc after seven years. However, the £1.5bn investment firm has defaulted on its interest payments and blocked investors from redeeming their money despite guaranteeing yearly access, a Telegraph Money investigation has found.
Last week its founder and chairman, Gary Forrest, left the company.
12% a year on notes. Bit of a red flag, no?