Financial experts have apologised to a Midland pensioner who lost £32,000 in the Gary Hexley financial scandal – nearly two years after his battle for a payout was first launched.
Capita Hartshead wrote to Bill Shackleford, from Hopwas, near Tamworth, apologising for the continuing delay to his application and asking for more evidence of details of investments dating back to 1998.
The apology followed a recent debate in the House of Commons on the Hexley saga, which has left more than 230 creditors out of pocket, with an overall debt of more than £2 million.
Mr Shackleford was initially refused compensation following an application in October 2010 but his case was reviewed following a second bid last October.
He is still waiting to hear the outcome of his later application, which has since been outsourced twice by the Financial Services Compensation Scheme to pension administrators Capita Hartshead.
Mr Shackleford said: “It beggars belief that it has taken this long for them to rule on my claim and now it has been outsourced twice.
“My details were passed on to a third party without my knowledge. It’s a complete and utter shambles.”
In a letter to Mr Shackleford, Capita Hartshead claims officer Liane Wicks wrote: “Please accept my sincere apologies for the continued delay you are experiencing in the processing of your claim.”
The FSCS said: “In light of new evidence provided to FSCS, we are currently re-examining cases where Mr Hexley sold products to investors. We must consider each claim on an individual basis.”
Tamworth MP Christopher Pincher, who cited Mr Shackleford’s lengthy campaign for financial redress in the Commons, has hit out at the delays.