Thursday, 28 March 2013 09:43
'A damning dossier outlining how cautious savers had their cash gambled on the stock market has been given to the boss of Lloyds Banking Group and the head of the City watchdog by Money Mail.
The file of complaints highlights how Lloyds TSB salesmen convinced the elderly to tie up thousands of pounds in fiendishly complicated investments by promising outrageous returns of up to 75 per cent.
But these profits never materialised, with many getting just £300 from £40,000 invested over five years. Meanwhile, the bank salesmen who convinced them to open the accounts pocketed upwards of £2,000.'
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