An adviser has told how he was left suffering clinical depression and reliant on anti-depressants after he fell for a £50m scam City watchdogs repeatedly flouted warnings to shut down.
He said he lived in fear of personal bankruptcy, professional ruin, and the retribution of both the fraudsters and his clients they had swindled, even taking the precaution of moving his daughter out of the family home. After nearly four decades in the financial services industry, he has sworn to leave it all behind due to the anguish he said he has been caused by the scandal. But more than the scammers, the adviser, who asked not to be named, blamed a regulatory system that saw the then supervisor, the Financial Services Authority (FSA), and the rest of the City watchdogs - HM Revenu...
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