Bank collapsed - depositors NEVER received their money back!

Imagine the next scenario... you wake up in the morning and discover that your bank account is gone, all your life savings are gone, every legal penny that you worked for every single day of your life is gone, and you are left basically with... nothing.

Now what if I tell you that this isn't your imagination, this is reality?
I don't know if you have heard of it or not but in October 2008 an Icelandic bank collapsed in the Isle of Man and 8 months since and the poor depositors have never received their money back...

No, they are not tax dodgers.
Yes, most of them are British citizens.
Yes, most of them paid UK tax and did everything by the book.

I know the Isle of Man is an offshore place but it's really not reflecting the poor depositors. Most of them are genuine "Kosher" people, who are simply trying to get their legtimate money back.
There are horrible stories for each one of them, some are even old people who saved money for years and in seconds this money was gone.

They never gambled with their money.
They didn't "invest" the money with the bank.
They were pure depositors who simply lost their life savings.

Why do I publish this?
1) Because I feel symphaty for these people.
2) Because I want to help them, the more people to know about it the better.

Please share this story with others so they could know about it... this is really a financial disaster for so many people, injustice and unfairness....

You can read more about it in the forum here:
http://chat.ksfiomdepositors.org/for...cussion-issues

I hope this story can touch into the heart of at least a few people, because if it is, I at least gained what I wanted from this thread.

PS No, I've never had money with this bank...

Thank you for reading..

..... ..:

Here is the whole story.

http://www.publications.parliament.uk/pa/cm200809/cmselect/cmtreasy/402/40206.htm



And here is a link talking about some of the customers getting their money back in full:

http://www.thisisderbyshire.co.uk/ne...l/article.html

Unfortunately banking is a business and while you trust that your money and/or investments will be safe when you "invest" in their bank, there are absolutely no guarantees. The only guaranty is if you physically stick your money into a safe deposit box and be able to take out the funds physically yourself instead of it just being an electronic record like when you put into savings, chequing or any other type of investment account.

Basically when you put money into the bank and are earning interest, you are basically being paid by the bank to allow them to use your money for their investments so that they can earn money. You get a small interest fee for allowing them to do that. Unfortunately, once again, the guaranteed safe return of your money during tough economic times and bad decisions, is not something you can count on 100%.

The Cats Protection had £11 million invested in that Icelandic bank, but from what i gather they were able to get it back?.

Weve had a couple of Banks collapse here in the UK last year, one of them in trouble was mine, but we were told by the goverment not to panic because the media weren't helping matters as per usual! I didn't panic and their fine now, but at the time they said if you had £50,000 your money was safe should anything happen, any more than that they said to open up an account with another bank and put the rest in there.

Originally Posted by Rosiemac

The Cats Protection had £11 million invested in that Icelandic bank, but from what i gather they were able to get it back?.

Weve had a couple of Banks collapse here in the UK last year, one of them in trouble was mine, but we were told by the goverment not to panic because the media weren't helping matters as per usual!

I didn't panic and their fine now, but at the time they said if you had £50,000 your money was safe should anything happen, any more than that they said to open up an account with another bank and put the rest in there.

Click to expand...

I believe this is also true of Canadian banks - they will not guarantee anything over a certain amount (I cannot remember if it is $10K, $15K or more but if one has a lot of money in a bank account it should be checked out. It's always a good idea to spread your money around. It might even be a good idea to keep some under your mattress.

US banks are insured to $100,000 per depositor per bank normally, raised to $250,000 at the current time.