Man holding BOV responsible for Lehman Brothers investment

A man is holding Bank of Valletta responsible for the damages he suffered when he invested €24,000 in 5.125 per cent Lehman Brothers Perpetual Nominal, through officials and representatives of the bank.

Michael Santucci, 50, of Sliema, filed a judicial protest saying he had wanted to buy government stocks and told the bank representatives so. But they persisted and insisted that he should invest in Lehman Brothers.

Their advice, Mr Santucci said, resulted not to have been in his and his wife’s best interest as the company went bankrupt and he lost his money.