The Financial Services Compensation Scheme (FSCS) has made a series of overpayments and underpayments in compensation for the failed Arch Cru investment scheme.
In its latest newsletter, the body admitted it was now seeking to claw-back overpayments totalling £700,000 from 992 investors where practical. It also said it had given more compensation to some 1,075 people underpaid a total of about £800,000. The CF Arch Cru funds were suspended by Capita Financial Managers in 2009 and the wind-up has yet to be completed. The FSCS said it began paying compensation to investors in 2011. From 2012, investors have been paid compensation under the regulator's Consumer Redress Scheme (CRS) using the CRS calculator. FSCS offers Arch Cru investors ch...
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