As the Financial Mail’s Sunday hard-hitting investigator, Tony Hetherington tackles readers’ columns, uncovers the truth behind closed doors and scores victories for the out-of-pocket. Find out how to contact him below.

AT writes: I’m not sure about this so I’m sending you the details of the 7.125 per cent interest offer on the Marks & Spencer fixed rate bond.

Tony Hetherington replies: You smell a mouse, and yes, it’s a pretty big one.

You’re told: ‘We are delighted to offer you an exclusive opportunity to earn a fixed return of 7.125 per cent on your investment with a Marks & Spencer Fixed Rate Bond. ‘Enjoy guaranteed monthly payments with the peace of mind that comes from the full protection of the Financial Services Compensation Scheme.’

You were directed to the website marksandspencersaver.com for more information. To do this, it asked for your name, email address and phone number and explained: ‘Our investment experts will contact you to help you secure a stronger financial future with confidence and ease.’

Scam: Fake Marks & Spencer fixed rate bond offered 7.125 per cent interest

Anyone who provided their details received further reassurance about the safety of their savings with a new email claiming that the entire investment was underwritten by major Citigroup Bank. The email adds: ‘One of Citigroup’s dedicated advisors will contact you shortly to discuss your needs and guide you through the next steps.’

These are set out in an email from [email protected], along with an application form purporting to be a Citi notepad and requesting a wealth of personal information such as your home address, date of birth, National Insurance number and ID number. full bank information.

But this is all a fraud. The fake M&S website was set up on 1 November, followed by Citi Group’s fake email address on 6 November. M&S issued bonds paying 7.125 per cent, but only in 2007. Scammers embellished the bonds to make them look like new. high yield savings account. On October 18, the Financial Conduct Authority (FCA) added a warning to its online list of more than 14,000 unlicensed investment firms. The public has been told to be wary of cg-wealth-services.com masquerading as Citigroup. The FCA announced: ‘This is an unauthorized firm using the information of a genuine FCA regulated firm when providing products and services.’

If you do business with it you will lose the Financial Ombudsman’s protection and compensation scheme, the regulator warned.

Within days, the fraudsters set up a new website, cg-wealth-management.com, posing as Citigroup. They also changed their phone number, which was 020 7971 1491, announced by FCA, to their new number, which is 0203 488 5727, which I can explain.

As I write this article, the FCA has yet to catch Citigroup’s new fraud. Both fake websites were set up through Squarespace, a large international domain name provider that protects the privacy of its customers. And the new phone number is equally secretive, using Voice over Internet Protocol facilities provided by a company outside the UK, so what appears to be a British number can actually be forwarded to anywhere in the world.

I asked the FCA if it was tracking down fraudsters and planning any action through websites and phone providers. He didn’t answer. But what’s clear is that scammers are still going after the people whose job it is to stop them. Much tougher action is needed. Hustlers are not romantic Robin Hood figures. They are thieves.

WE ARE WATCHING YOU

Banned: Ads by a wine company led by Enzo Giannotta

The Advertising Standards Authority (ASA) has done admirable work on promotions offering unregulated investments. Last Wednesday, it banned the advertising of four companies, all of which market wine as an investment.

These are Cult & Boutique (Wine Management) Ltd, Cult Wines Ltd, Vintage Associates Fine Wine Merchants Ltd and Vinverum Ltd. All had failed to make clear that their wine investments were not regulated by a watchdog. They also did not warn that the value of the wine might decrease. Cult & Boutique claimed: ‘Fine wine as an investment has returned 13.6 per cent annually over the last 15 years.’ The ASA asked the company to back this up with evidence but it failed to do so.

Cult & Boutique is headed by Enzo Giannotta. In 2015 I named him as one of the bosses of Australian Portfolio Wines UK Limited (APW), a fraudulent wine investment company, and disclosed that he had previously been a salesperson at another fraudulent investment company, The Wine Index Limited. The Wine Index was closed down by the Supreme Court in 2003, and APW was wound up by the Supreme Court shortly after our 2015 report.

If you think you have been the victim of financial abuse, write to Tony Hetherington at Financial Mail, 9 Derry Street, London W8 5HY or email [email protected]. Due to the intensity of the questions, personal answers cannot be given. Please send copies of the original documents, which we regret cannot be returned.

If you think you have been the victim of financial abuse, write to Tony Hetherington at Financial Mail, 9 Derry Street, London W8 5HY or email [email protected]. Due to the intensity of the questions, personal answers cannot be given. Please send copies of the original documents, which we regret cannot be returned.