West Ham sponsor investors still waiting for compensation

Some investors including some West Ham fans who lost millions of pounds when West Ham sponsor Basset & Gold went bust are still fighting for compensation for what they feel were mis-sold investments.

Basset & Gold, which sponsored the shirt sleeves of West Ham, fell into administration in 2020 leaving 1,800 investors £35million out of pocket.

Concerns had been raised about its advertising, with the 4.24 per cent high-risk bonds likened to cash savings products previously offered to pensioners by National Savings & Investments.

They were also told the money would be used to back small businesses, but in reality, almost all of it ended up in a payday loan firm called Uncle Buck.

The Financial Conduct Authority said last April it ‘had concerns around the accuracy and fairness of B&G’s financial promotions of the mini-bonds’ and the Financial Services Compensation Scheme has already handed compensation payouts worth £17million to 950 investors for mis-spelling found to have taken place after March 2018.