A couple who invested the savings of their 30-year-old daughter which they inherited following her tragic death have requested a refund, claiming they had been fooled into investing the money in a fund which was not capital guaranteed.

John Galea and his wife Marianne filed a official letter in court against All Invest Company Limited and intermediary Wallace Falzon because there was a serious risk that they would lose the €25,000 they had invested.

They said the money was their share of their daughter's inheritance after she died tragically in 2011.

They explained that Mr Falzon went to their house and talked them into investing the money. He deposited the money in a fund but, after just four months, withdrew them and deposited them into a different fund without their knowledge, they claimed.

The couple said they wanted a secure fund because they had decided to invest the inheritance so their other children could eventually benefit from their late sister's savings.

Admitting that their level of education was high, the couple said they felt they had been fooled and that they could lose their savings because of Mr Falzon and the investment company's "abusive behaviour".

The Galeas said they reported the matter to the Malta Financial Services Authority and called on Mr Falzon and the company to refund their full investment and pay them damages they suffered and the interest they had lost.

Lawyers Stefano Filletti and Jennifer Shaw signed the document.