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SFO probes fund

The Serious Fraud Office has launched an investigation into a fund called Gilher Inc which guaranteed a return of 20 per cent a year. The £20m fund targeted British nationals and other expatriates in Mallorca.

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The Personal Finance Society has appointed Smith & Williamson director and national head of financial services Mike Fosberry to take over from Paul Lothian as president. Zurich Intermediary Group chartered financial planner Edward Grant has been appointed PFS vice-president.

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