A couple have requested a full refund of their late 30-year-old daughter’s invested savings, claiming they were conned.

John Galea and his wife Marianne filed an official letter in court against All Invest Co. Ltd and an intermediary because there was a serious risk they would lose €25,000.

They said they were fooled into investing in a fund that was not capital-guaranteed.

The couple said the money was their share of their daughter’s inheritance after she died in 2011 and that the intermediary went to their house and talked them into investing in a fund.

After four months he withdrew the money and deposited it into a different fund without their knowledge, they claimed.

The Galeas wanted a secure fund so their other children could eventually benefit from their late sister’s savings.

They felt they could lose their money due to the intermediary and the investment firm’s “abusive behaviour”.

They reported the matter to the Malta Financial Services Authority and called on the intermediary and the company to refund their full investment, and pay damages and lost interest.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.