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Hello all,
I, along with around 5 other people were paying money into a rotating savings scheme (sometimes called a Pardna scheme for people from the Caribbean or Cometee for people from South Asia) The scheme has been around for years were people in the community pay a small sum of money (or whatever you can afford to save) to a reliable person in the community running the scheme. The money accumulates over time and each person gets their "draw" at different times during the year. For example I pay £50 a week and agree to do so for 2 years. I can have my "draw" of the £4800 in say 6 months time but I would obviously still have to pay the £50 a week until the end of the 2 years. So basically me and a few other people had been paying this couple in the community for around 2 years.
Everything was going smoothly until the couple split up overnight. The husband has gone to live elsewhere and the wife is saying he has taken all the money. The husband refuses to answer our calls but we have heard from other people that he is saying that his wife has all the money. We are stuck in the middle. Most people in the group have lost thousands. I know this kind of scheme is unregulated by the financial authority in the UK. Would/could the police do anything?Would we collectively be able to go down a civil litigation (or another?) route? Thanks in advance for any answers, K.
I, along with around 5 other people were paying money into a rotating savings scheme (sometimes called a Pardna scheme for people from the Caribbean or Cometee for people from South Asia) The scheme has been around for years were people in the community pay a small sum of money (or whatever you can afford to save) to a reliable person in the community running the scheme. The money accumulates over time and each person gets their "draw" at different times during the year. For example I pay £50 a week and agree to do so for 2 years. I can have my "draw" of the £4800 in say 6 months time but I would obviously still have to pay the £50 a week until the end of the 2 years. So basically me and a few other people had been paying this couple in the community for around 2 years.
Everything was going smoothly until the couple split up overnight. The husband has gone to live elsewhere and the wife is saying he has taken all the money. The husband refuses to answer our calls but we have heard from other people that he is saying that his wife has all the money. We are stuck in the middle. Most people in the group have lost thousands. I know this kind of scheme is unregulated by the financial authority in the UK. Would/could the police do anything?Would we collectively be able to go down a civil litigation (or another?) route? Thanks in advance for any answers, K.
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