A bogus investment firm, run by an alleged mortgage expert, has ripped off almost £1m from debt-ridden Scots.
Around 60 people are believed to have lost up to £15,000 each to a get-rich-quick scheme run by Paisley-based Cost Reduction Services, reported the Daily Record. Manager, Stewart Kennedy, persuaded dozens of Scots to hand over £15,000 each for a franchise in his firm and persuaded others to remortgage their homes to pay off debts to cover the £15,000 fee. The firm also boasted that people who signed up for their agency franchise could make a fortune without doing any work. On March 2011, the firm's website revealed that up to 58 people had joined the scheme. The money taken from...
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