British government siezed British savers assets

  • bushmen
  • 10/10/08 31/05/09
  • unspecified
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Posted: Thu, 23/10/2008 - 12:20

British government siezed British savers assets

Thursday October 23 2008

It has come to light that assets in Kaupthing Singer & Friedlander UK, seized by the FSA on orders from the Government, belong to British savers and not to the Icelandic Government as has been reported.

£550m of British saver's assets have been tied up in the administration of Kaupthing UK with evidence indicating that the Treasury intends to use these funds to cover Icelandic debts and NOT return them to savers.

Over 8,000 British savers in the Isle of Man branch of Kaupthing Singer & Friedlander (who do not have a guarantee from the UK government) stand to lose their life savings and their pensions should the Treasury plan go ahead.

http://www.independent.ie/business/european/british-government-siezed-br...

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Definition of theft

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 18:36

Damn right its theft, under UK law theft is defined as "to dishonestly apropriate property belonging to another, with the intention of permantly depriving the other of it". Im a UK police officer and if this was joe public i would have them straight in the cells for it. Unfortunately its the UK goverment and i wouldnt get within 100m of number 10 without being stopped, doesnt stop me wanting to though.
I Am F*CKING LIVID!!!!!!!!!!!!


THEFT BY BRITISH GOVERNMENT?

  • everhopeful
  • 11/10/08 n/a (free)
  • a depositor
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  • Thu, 23/10/2008 - 18:29

If our savings in KSF IOM which are lying frozen in KSF UK could be used to repay our fellow British savers in KSF UK couldn't that be construed as theft i.e. stealing our savings and wouldn't we have a strong legal case? It also bothers me a great deal that the orders given to Ernst & Young as Administrators of KSF UK were sealed by the High Court so there is zero transparency on how they will deal with the proceeds? Isn't the UK meant to be a democracy with accountability? Surely they cannot hide the instructions using the Terrorist Act?! This question of secrecy needs to be put before the Treasury Select Committee.


True democracy

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 18:40

Unfortunately true democracy died with the unforunate sould of 9/11
The anti terroism act is more than terroism, its an act that erodes at democracy itself.


Or better still, Cherie Blair

  • Captain Mainwaring
  • 11/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 18:31

Or better still, Cherie Blair who I understand is rather good on such matters.


British/non british citizenship

  • Jean-Charles Marlier
  • 10/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 14:14

It seems that the voice of the non british citizens representing 10%of depositors of KSF IOM has really not been heard very much for the past 2 weeks,and so,would like to draw the attention of british citizens,that we are all in the same boat here;I am a french citizen who had savings for many years, with The Derbyshire Building Society,savings that just like so many others in this forum,were transferred into the now unfamous KSF IOM,decided to keep them there because the rate of interest was so much better than the one provided by The Derbyshire,(I mean who would have predicted 8 months ago what is happening now,),so,I totally agree with what has been said so far in this great forum,but would like to stress that it's not only british savers's money that has been "robbed in broad day light",but foreign nationals too.My savings were built up over a period of 30 long years spent working in a hospital, in Saudi Arabia,where I am still working,2 years from my retirement,expecting to use my savings with KSF IOM then,well,"fat chance" of that now,unless a miracle does happen...
So,good luck to all of us!!!


Understand

  • Diver
  • 11/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 14:25

I completely understand where you're coming from but I think you're missing the point.

If one depositor gets his or her cash back then we all do. So, with that in mind we need to focus our efforts on highlighting issues that the press and media will use and publish. With all due respect, EU citizens losing their money isn't news for the British media (and that's who we're targetting).

The harsh reality is that Mr & Mrs Smith reading the newspapers over breakfast don't care that someone across the channel has lost their money. But you turn that around and point out that it's widows, pensioners and single Mums then the story changes.

So, I'm afraid you will not see any pieces promoting the plight of our non-British fellow depositors. Their biggest role in this is helping us get our messages out in such a way that we stir up as big a fuss as possible.


I agree

  • Alex
  • 13/10/08 31/05/09
  • a depositor
  • Offline
  • Thu, 23/10/2008 - 14:50

I agree 100% with Diver's message. I'm in Saudi Arabia as well and I'm not an UK citizen, but I understood we are all in the same boat. For the moment, the UK citizens represent the "quality" and we are the the "quantity" (well, not a big one, but still..). Let them guide the boat and give them all the support they need and at the end of the day we all reach the shore.


Not forgotten

  • mikeinfrance
  • 12/10/08 28/09/09
  • a depositor
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  • Thu, 23/10/2008 - 17:44

Beautifully put!
Rest assured you are not forgotten but we have to use the best weapons in our armoury.Our prime target is the british government for putting us ALL into this mess and we brits,in force, make a formidable weapon.


Non UK Citizen or resident

  • garyw
  • 18/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 14:32

I also am not a UK citizen (for better or for worse) but Diver is 100% correct and that is why i have not raised this point until now. If the Brits get their money back so will we. And if this does come to happen it will be due to the great job their doing with the UK press.


Great article

  • Codpeace
  • 23/10/08 30/11/12
  • unspecified
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  • Thu, 23/10/2008 - 13:13

We need headlines like this - spead this to all media contacts and politicians.


PRESS CONTACT ADDRESSES PLEASE

  • caledonia
  • 14/10/08 30/09/09
  • a depositor
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  • Thu, 23/10/2008 - 13:19

I have frantically been trying to send this report to MP's etc etc but don't have any press contacts ..... please can anybody supply as I am here waiting to do it NOW !!


This page has lots of links

  • Codpeace
  • 23/10/08 30/11/12
  • unspecified
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  • Thu, 23/10/2008 - 13:42

They have just stolen 100% of my savings.

  • steveejeb
  • 10/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 13:06

The UK didn't guarantee my savings 100% as they claim. They have just stolen 100% of my savings.


UK Stole my Savings !

  • worriedsaver
  • 10/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 12:48

Is this type of headline finally making our plight heard ?


headlines...

  • IceCrusher
  • 14/10/08 25/10/11
  • a depositor
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  • Thu, 23/10/2008 - 12:58

We can only hope this is the start of a flood! Once the press bloodhounds pick up the scent of this proposterous aberration, they will surely be all over it.

IceCrusher


How can this be legal?

  • sosnovka
  • 10/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 12:45

HOW??????????


How can this be legal

  • Monkeyface3604
  • 10/10/08 31/05/09
  • unspecified
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  • Thu, 23/10/2008 - 13:06

How can this be legal, its not but then the UK goverments actions in this whole thing have been far from legal!!!!!!
If i loan my TV to my mate and baliffs go round his house to collect items for a debt he owes, they cant take my TV as payment.....this is basically what they are trying to do!!!!!


and covering the proceedings with

  • sosnovka
  • 10/10/08 31/05/09
  • a depositor
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  • Thu, 23/10/2008 - 13:37

the seal under the ''anti-terrorism'' act for good measure, so none are the wiser. Unbelievable but true.