Alas, if so many lives hadn’t been ruined by this mess, it would be comical. Please see http://www.ksfiomdepositors.org for more on this saga: you couldn’t make this story up! If you are looking for somewhere safe to put your savings, please bear in mind that the Isle of Man and Guernsey chose not to reimburse depositors in full after the Icelandic banks collapsed. Almost al other countries did, and quickly.

It may appear to be humourous but it is deadly serious! As an offshore financial centre the Isle of man is a sham. It is astonishing that a British Crown dependency should use its status as such to promote its financial status without any credible financial backing to justify what it claims. It is no more than a collection of back street financioperations using cheap

This Youtube video may appear to be humourous but it is deadly serious! As an offshore financial centre the Isle of Man is a sham. It is astonishing that a British Crown dependency should use its status as such to promote its financial industry without any credible financial backing to justify what it claims.

It is no more than a collection of back street financial operations using cheap rental facilities to entice depositors & investors to part with their money under false pretences. The British Ministry of Justice should crack down hard on this rotten little Island , but I it will not because there are lots of vested interests that stops it from doing so.

It is more convenient for the Ministry of Justice to say that the Isle of Man is an independent jurisdiction with its own government, legislature & financial supervision commission than it is to recognise the outrageous injustice that is being perpetrated on British citizens who have deposited in one of its banks that has lost its licence through the crass stupidity of its directors who were backed by the Financial Supervision Commission in placing over half the bank’s assets in Kaupthing UK that went into administration. 50% of the assets of Kaupthing IoM were lost to secured creditors of Kaupthing UK!

Instead of appointing an independent committee of inquiry, the squalid government of the Isle of Man has set up its own select committee to inquire into the collapse of Kaupthing IoM. It will be a total whitewash for the sole purpose of presenting the Isle of Man as a trustworthy offshore financial centre. This will be a huge con trick devised for the sole purpose of maintaining a semblence of integrity for an industry that is the backbone of the Island’s economy.

The British Government should intervene under the powers that it has to put a stop to this nonesence. But it will not because it serves its own secret purposes not to do so. Ministers are refusing to meet with representatives of depositors to discuss the matter. This demonstrates the superficiality of the words of the British Prime Minister when he says that where there is unfairness the government will intervene to put it right. Unfairness in a British Crown dependency is the same thing as unfairness in England, Scotland, Northern Island and Wales.

British expat citizens who have been deprived of their life savings & pensions will NOT tolerate this gross injustice. They are an army fighting for social justice in just the same way as the British army is fighting for social justice in Afghanistan. The fight in Afghanistan might be lost but the fight over the injustice in the Isle of Man will be won.

A wonderful video to highlight the plight of investors in the Isle of Man. Since the collapse of Kaupthing Singer & Friedlander, the depositors have been been delayed, by nine months, in seeing any return from their investments due to being caught in a web of institutions, countries, governments all blaming the bank’s collapse on each other. There has been no attempt to accept a collective responsibility and repay depositors which so many countries have accepted as necessary to stem a world’s economic collapse and maintain faith in their banking industry. The Isle of Man does not deserve its place as a sound financial centre by refusing to step into the fray and support its investors. What a shame that British citizens have to hide behind masks to get public attention, to their plight, because banking officials, treasuries and parental guarantees have proved incompetent and hollow.

Many depositors have had their life sayings effectively confiscated by the UK government and what has the “independent” IOM government done about it? Nothing. Some depositors have been made destitute and it would now appear that a depositor has been driven to suicide. Have a look at http://www.ksfiom.com. Other than the “early payment scheme” nobody has seen a penny of their money almost one year after the closure of the bank.

If people reading these comments would like more information on this dreadful travesty of justice, please read the Depositors’ Action Group site: http://www.ksfiomdepositors.org or the more user-friendly complementary site http://www.kaupthingiom-dag.co.uk

Finally, after almost 10 months of abject despair and suffering at the hands of the uncaring governments of the Isle of Man and the UK, an organization with clout has now turned the spotlight on our plight. Thank you! It is unbelievable that we have been hung out to dry by these callous officials, whilst they go to great lengths to convince the world that all is well on the Isle of Dishonesty. I implore you, as a task force on financial integrity, to take a good look at the lack of integrity we have endured since we were sold down the river by what was once a sound British institution – the Derbyshire Building Society.

The UK may have been the prime instigators of our plight, but as depositors in the Isle of Man the buck stops there: we looked to the IoM to fight big brother for us and they let us down totally. DON’T BANK ON THE ISLE OF MAN.

The IOM is a sham full of false promises and “bottom covering” ( politicians saving theit own jobs). All other governments have swiftly come to the aid of their depositors and underwritten their deposits by 100%.. NOT SO THE IOM. We have had 10 months of suffereing to get to this point, people have committed suicide and still are (another was recently reported). As an investigative journalist can you not expose this further. Take a look at the website :- http://www.ksfiomdepositors.org read the stories written there, you could not make this up. We deposited the funds from a property sale in August 2008, that was our pension fund, by October 8th it was gone. We have not seen a penny and have had to fight hard to even get information out of this narrow minded island that we entrusted with our money. I say again DON’T BANK ON THE ISLE OF MAN — IT RUINS YOUR WEALTH!!

I too have lost money in this terrible saga, it was deposited in KSFIoM through a Royal Skandia insurance bond.
For a precis of events please read here http://www.ksfiomdepositors.org/sites/www.ksfiomdepositors.org/files/Foot-report-DAG.pdf. Neither the regulatory body -FSC, the bank directors nor the chairman of the IPA, (former Chief Minister & director of KSFIoM) stepped in to prevent this catastrophe caused primarily by the placement of over 50% of KSFIoM’s assetts in a sister bank,KSFUK where it was unprotected not ring fenced and totally AT RISK

Is that the Queen on a bad hair day?

@ginsights… the answer to your question is simple. If you are British and resident anywhere in the world (eg: you are a doctor, teacher, water engineer, charity worker, nurse, construction engineer, etc.. working in the Third World to help those living in poverty or you are retired & living in a country that you have come to call ‘home’ ) you are not allowed to open a bank account in the UK.

Where else can you bank where you have ready access to your money? The answer is either in a dodgy bank onshore where you live or offshore where you are led to believe your savings are safe. Alas! they are not. You would expect a British Crown dependency to be the safest offshore haven of them all, but tens of thousands have lost their life savings in the Isle of Man & Guernsey. Their trust has been betrayed by an immoral banking system that has no interest in you, only your money. That’s why there’s now 3 pages on Google on DON’T BANK ON THE ISLE OF MAN – it could seriously damage your wealth.

Jim
http://www.kaupthingiom-dag.co.uk

Don’t bank on the Isle of Man ! – simple !!!