Widow claims bank caused her to lose her investment

A 66-year-old widow, Bernadette Cachia, of Fgura, has filed a judicial protest against APS Bank, claiming that the bank had sold her high risk bonds when this was against her wishes.

She said the bank, as a broker, had encouraged her to buy Lehman Brothers bonds and bonds of Lands Banki Islands MTNS.

She had followed the bank's advice and invested €25,000. However, she said she had been badly advised by the bank and the bonds were now worth only a few thousand euro.

Mrs Cachia said that she had been clear to the bank that she did not want to invest in high risk bonds and wanted to safeguard the capital.

Mrs Cachia said the bank rarely ever sent her statements and never informed her when her investment was at risk. She held the bank responsible for the damages she had suffered and called for liquidation of the damages.