9 February 2010

Financial Adviser taken hostage

A group of German senior citizens took a financial advisor hostage that they blamed for causing them a loss of Euro 2.5 million. Now while we do not condone this behavior we do at least have some understanding for their frustration with the legal and regulatory system that all-too-often is slow moving and seems to favor those perpetrating investment frauds. It also seems only fair to use extra-judicial methods to get your money back when the governments of several countries seem to be willing to buy supposed bank details that were obtained illegally. (We stress the word supposed as they data may well have been created out of thin air in order to cash in on gullible tax authorities or to get even with people one dislikes).