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Thursday, 22 September 2011

"Canadian George Burrows - Butt Pirated Out Of 100K"

Canadian man travels to Jersey to protest outside bank

George Burrow protesting outside Standard Chartered  
 
George Burrow is protesting after he lost £100,000 in the global economic downturn

A Canadian man has travelled to Jersey to protest outside a bank after he lost money in the global economic downturn.
George Burrow lost £100,000 in 2008 after investing it with Standard Chartered Jersey Limited.
He claimed he was told it would have no exposure to US Financial Institutions but was later called to say it had been lost after being invested in US bank Lehman Brothers.
A spokesman for Standard Chartered said they were satisfied with their conduct.
Mr Burrows said he was told there was nothing Standard Chartered could do.
He has been wearing a poster with what he said was a warning to customers.
He said: "I came over for two days basically to protest outside the bank in the hope that I could get some wider support and perhaps embarrass the bank into actually doing something."
Richard Ingle, the chief executive officer, said: "We are very sympathetic to any individual impacted by the financial crisis.
"In this particular case we have thoroughly investigated the matter, and we are completely satisfied with our conduct and are confident with the position we have taken."
Mr Burrow has contacted the Jersey Financial Services Commission and was told they had no powers to act in this case.

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10 comments:

  1. What a joke, of course Standard Chartered are going to be completely satisfied and what the hell is the point of there being a JFSC if they cant act. This just proves what a puppet commission they are, just there as a show and nothing else. Pandering to Jersey Finance and thats all they are there for. There is no doubt this guy has a very legitimate case and if it had been another jurisdiction he more than likeyl would have received the correct support.

    Well George, I hope you spread the word because as the bankers like to say, One disgruntled person will tell ten people whereas one happy person will only tell one!

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  2. I haven't heard that one before, thanks :)

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  3. I am so sorry for George and his wife and I am ashamed to be a Jersey girl if that is the way that the JFSC treat this couple. This can only bring banking in Jersey into disrepute if it isn't that way already.

    Can't some organisation help these poor people fight their corner.

    ahimsa

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  4. Of course they can help mo, they just don't want to because it will cost precious money!

    When the food runs out, we can laugh at them trying to eat their cash :)

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  5. Why should he get his money back?

    He gambled with it in the investment market.

    If no one ever lost, we'd all be millionaires.

    Nothing to do with the JFSC.

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  6. "Why should he get his money back?"

    I believe he has a strong claim that he was lied to and the financial misrepresentations would be classified as fraudulent in any other European jurisdiction. This was not simply a case of his losing money due to ordinary market risk, but appears related to the unique lack of oversight and transparency of the Jersey finance industry.

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    1. Now have a copy of "hidden" internal Standard Chartered review. It confirms that Anna Pawlyszyn lied in describing product and that she falsified the suitability assesment in order to get the sale through. The summary however says dont go into detail and say we stand by our position i.e. not our problem.

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  7. George i am also a JErsey Resident and im very sorry for loosing all your life savings,has the Jersey Post is so corrupt have you ever though of taking this story to the UK newspapers ? Going national would do wonders ;-}

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  8. Mr Burrows, i was looking for "lehman recovery rate" on goole and came accross your article by chance. What a small world...I was sold that exact same note by Anna Pawlazyn at Standard Chartered!!! I truly hope she gets bad karma for all the pain she has caused soo many!!

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