Matthew Bullock Chief Executive of the Norwich and Peterborough Building Society talks to the BBC’s Paul Stainton about how they plan to deal with investors’ losses in the Keydata collapse. An investor Robert Hidderley is also interviewed. Broadcast at 08:10 on Friday 21st May 2010 in the Peterborough Breakfast Show on BBC Radio Peterborough.
STAINTON: This just in this morning as well. A pensioner who invested into a savings plan recommended by Norwich and Peterborough Building Society fears he will never ever see his money again. Robert Hiddereley invested over a hundred and thirty thousand pounds into a firm called Keydata who’ve now gone bust. Robert is one of thousands of people affected and he joins us now. Morning Robert.
INVESTOR: Good morning.
STAINTON: I do know of a few people who don’t want to be named who are also in a fairly similar boat to yours Robert. Just explain to us what the circumstances were and what you did.
INVESTOR: Well I had some money which I wanted to invest obviously. And this seemed a fairly good rate of interest certainly. And so I went to Norwich and Peter and spoke to one of their advisers, and I decided to do this. And it all seemed a very good straightforward solid sort of scheme.
STAINTON: So the Norwich and Peterborough where you had your money suggested you invest in this other company?
INVESTOR: Yes. This is where I wanted to put it, in this good rate of interest that was being offered.
STAINTON: And what were the first signs that perhaps it wasn’t as good as it looked?
INVESTOR: Well it was fine for about the first two years, two .. yes two years. Maybe more than that actually, two and a half years. And then the .. and mine was arranged so that I would get interest on my money paid every month. And about as I say two and a half years later it started to be a bit intermittent. To be fair, all the money came through for the best part of another twelve months, but then it suddenly stopped altogether. Continue reading “Matthew Bullock Norwich and Peterborough On Keydata”