Although they had signed a life insurance contract promising them significant returns, savers decided to file a complaint after losing money. Some invested funds may have been misappropriated.
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She wanted to build up savings for her retirement. For this, Bénédicte Scotto from Apollonia took out, in 2011, via an independent broker, life insurance called “Premium Prudent”. “It’s a savings that was presented as safe,” she explains. The documents mention attractive returns of 7.5% annually. And according to her, the broker promised her even more: “We offered a return of at least 20% in the space of a few years.”
But today, not only has she not won anything, but she also says she has lost 5,000 euros out of the 12,000 she had invested. “To have such poor performance and not be able to justify that we had negative performance while, at the same time, the stock market had positive performance, what did they invest our money in so that we had negative returns? “, she asks herself.
His money was in fact managed by an insurer in Luxembourg, FWU. He has since gone bankrupt. We contacted one of the brokers who marketed these life insurance policies in France. Also accused, he defends himself: “The brokerage company ceased all marketing of its products in 2014, on its own initiative, in order to protect savers.” The broker also claims to have alerted the authorities. But 200 savers filed a complaint for fraud.
“Where did the money go?” There is a body of evidence suggesting that the funds invested by these savers could have been misappropriated,” indicates Me Anne Charlotte Mallet, savers’ lawyer. 150,000 life insurance contracts of this type have been signed in France. 34,000 savers would still have recovered nothing.
Testimonials from savers
Association for the Defense of Life Insurance Victims
Savers lawyer Maître Emma Loéty
Savers lawyer Maître Anne-Charlotte Mallet
Written response from the broker Predictis (formerly Arca Patrimoine)
FWU Life (formerly Atlantic Lux) website in liquidation
Communication from the Banque de France (Prudential Supervisory Authority) indicating that FWU Lux is in liquidation
When asked, the legal representative of FWU Lux did not respond.
Non-exhaustive list.
Originally published at Almouwatin.com
