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Families demand compensation

Families are still waiting for cash after money transfer firm collapse

Bangladeshi families that were swindled out of millions have demanded compensation saying the government had promised them cash two years ago.

Eastern Eye report today (article not online) on the frustrations of local residents, who say they have already waited three years since First Solution Money Transfer in Tower Hamlets went bust.

The government promised in January 2008 that half a million returned to families that lost cash. The insolvency department say that a minimum of £445,000 owed to families by, would be handed over by September 2009.

Four months later, local MP Jim Fitzpatrick has now taken up the case and promised to ask the Treasury about what has happened to the money.

The Daily Mirror’s consumer investigation team Penman & Sommerlad, who have written a series of stories about the firm, recently reported that three men associated with First Solution Money Transfer have been banned from running companies.

Eastern Eye quotes property developer Dulla Miah, who transferred £70,000 just days before the company collapsed, said: “I feel helpless. It has changed my life. I am in huge debt.”

LH

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