Cru founder Jon Maguire says people who blame him for the Arch cru fund debacle are ignorant of the facts.
Maguire (pictured), who has joined Voila Asset Marketing as investment development and marketing director, says he understands why the issue has been centred on him but advisers should focus on the roles played by Arch, Capita and the depositories.
He says: “These people are long on tittle-tattle and very light on facts. If they think that I have had a fair hearing, then I want to make it clear that I do not think I have.”
Maguire says he is working with law firm Foot Anstey to seek full redress for investors in the Arch cru fund range. He says a submission from Foot Anstey on what has happened has been made to counsel.
He says: “We will know within two weeks whether we can force pre-action disclosure, particularly the underlying hol-dings on the Guernsey cell companies.”
CandidMoney.com founder Justin Modray says: “The cru debacle is not Jon Maguire’s fault alone but he is in denial if he does not shoulder some of the blame.”