Some 12 Premier League footballers are pursuing their financial advisers for total losses of £14m after being advised to invest in unregulated collective investment schemes.
Claims management firm Rebus Investment Solutions is representing the footballers and says over 200 players have invested over £1bn in Ucis funds in total over the last 15 years.
The largest single investment in Ucis by a footballer was £12m.
Rebus says the footballers were all advised by different advisers and were not made aware of the risks involved in the schemes. The claims firm also points the finger at the footballers’ agents for taking payments from advisers for signing players up to certain schemes.
Rebus head of client relations Martin Taylor says: “We are currently dealing with a number of premiership and ex-premiership footballers who are now facing financial ruin as a result of complex investment schemes which they were mis-sold and we think this is just the tip of the iceberg. What’s clear from the data we have collated is that premiership footballers have invested in these schemes on a huge scale over the past 15 years.
“Yet, in many cases, players were not made fully aware of the risks involved or the potential costs. Many professional advisers have not fulfilled their obligations when recommending these and, if that is proved to be the case, investors have a right to claim compensation. We are urging any footballers who believe they were mis-sold to come forward.”
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