Ponzi schemer jailed for ten years

The Serious Fraud Office announce:

"Convicted fraudster Kevin Foster was jailed for ten years for running an unauthorised investment business and for stealing investors' funds through his £34 million KF Concept scheme..."

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Call to clean up cash ISA market

Consumer Focus is today submitting a super-complaint to the OFT about the £158 billion cash ISA market:

"The consumer champion estimates that 15 million cash ISA holders could be losing out in interest worth up to £3 billion a year because of the way the market operates..."

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UK economic growth revised upwards

According to the Office of National Statistics:

"UK gross domestic product (GDP) in volume terms rose by 0.4 per cent compared with the previous quarter. This was revised from a rise of 0.3 per cent published last month..."

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RBS fined £28.5m

According to the Office of Fair Trading:

"The Royal Bank of Scotland (RBS) has agreed to pay a fine of £28.59 million after admitting breaches of competition law between October 2007 and February or March 2008.."

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Post Office offer new 90% LTV mortgage product aimed at FTB's

Business Secretary Lord Mandelson today announced a major expansion of the financial services offered by the Post Office:

"The Post Office will offer a new mortgage product with a 90% loan-to-value ratio aimed at first-time buyers. The Post Office will also increase its lending substantially, aiming to double the value of its mortgage book in the financial year 2010/11..."

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Pension trustees in connection with £52m fraud

The Serious Fraud Office announced:

"Two former GP Noble trustees have today been charged with fraud and abuse of position in connection with the alleged theft of £52 million of pension assets from nine occupational pension schemes..."

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UK public sector debt above 60%

The Office for National Statistics announced today:

"Net debt was £857.5 billion, equivalent to 60.3 per cent of gross domestic product, The public sector current budget was in deficit by £6.0 billion..."

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Investors defrauded of £34m

The Serious Fraud Office report that:

"Investment road-show fraudster Kevin Foster has been remanded in custody today after being convicted of defrauding investors of millions of pounds through his various schemes, collectively called KF Concept..."

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SFO: Alleged boiler room conspirators charged

The serious Fraud Office has reported:

"Seven people have been charged this week with conspiring to defraud investors through a series of alleged share scam operations, known as 'boiler rooms'. All are due to appear at City of London Magistrates' Court on Friday 19 March 2010..."

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Over 3 million UK borrowers don't know their mortgage rate

According to Post Office Mortgages:

"Despite the Bank of England base rate being at an all time low, at least three million UK borrowers (28 per cent) do not know the rate of interest at which they are currently repaying their mortgage..."

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Mortgage company accidentally discloses over 15,000 account details

The Information Commissioner's Office (ICO) announces:

"Redstone Mortgages Ltd in breach of the Data Protection Act (DPA) after personal information relating to 15,333 mortgage accounts was emailed to a member of the public by mistake..."

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Post Office expands mortgage range and cuts rates even further

The Post Office has cut the rates on its fixed and tracker mortgage products:

"The rate changes will take effect immediately and will coincide with the launch of a new range of 75% loan-to-value (LTV) mortgages..."

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Six charged in £50 million mortgage fraud

Following a hearing at City of London Magistrates' Court:

"Six individuals have been charged with offences in connection with a series of high value commercial mortgage frauds..."

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Public sector net borrowing at £4.3 billion

The Public Sector Finances index, January 2010, published by Office of National Statistics, reveals:

"Public sector net borrowing was £4.3 billion; £9.6 billion higher net borrowing than in January 2009, when net borrowing was -£5.3 billion..."

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UK inflation rises To 3.5%

The Office for National Statistics report inflation in the UK jumped to 3.5% in January from 2.9% in December:

"The CPI fell by 0.2 per cent between December and January. Although negative, this is the strongest ever CPI growth between these two months..."

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