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Keydata forum suspended after “offensive allegations”

A website for investors who suffered losses in the Keydata collapse has been taken offline after members published personal remarks about Keydata founder Stewart Ford.

The Keydata Victims’ Forum was suspended on Saturday after Ford’s lawyers contacted its internet service provider.

Ford’s spokesman Jack Irvine says “highly offensive allegations” were made.

The Keydata Victims’ Forum was established by Peter Magowan, a Keydata investor, as a central hub for all investors to disseminate information and organise a response to the crisis.

Irvine says Ford and his family “have yet to receive an apology from the moderator of the website or any of those responsible for posting this offensive material”.

He says: “The publication of such false and defamatory material on the website has persisted despite several formal complaints made on Mr Ford’s behalf by his lawyers.”

Irvine says that Ford is limited in what he can say because of the confidentiality requirements as part of an ongoing FSA investigation into the Keydata collapse.

He says: “The fact is that he has been the target of a constant stream of personal abuse on this website over the last few months.

“[He] is in no way seeking to stifle debate about why the investors of Keydata are in their current predicament and how that might be best alleviated.”

He adds: “Ford has not commenced any legal proceedings to close down the Keydata Victims website.”

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