A couple yesterday filed a judicial letter against All Invest Company Limited and one of its employees, Joseph Muscat, claiming they were sold a financial product that failed and cost them a lot of money.
Jeffrey and Romina Vella said that on October 20, 2008 they were sold a product, “Arm Asset Income Plan – Five Years”, whose capital was guaranteed by Mr Muscat.
The couple said they do not have a high level of education and should not have been sold a product that exposed them to a risky venture.
They made the investment after Mr Vella was given a €23,000 golden handshake from the Drydocks.
Despite assurances from Mr Muscat, it became evident there was a serious problem. They are now seeking legal redress for compensation, represented by lawyers Stefano Filletti and Jennifer Shaw.