Investors in the failed UGI Finance still awaiting money

No Comments

Investors in failed Neville Blythe-led UGI Finance and Investments Limited, are yet to receive their money since it collapsed in January and went into receivership.
The investors turned up at the Altamont Court Hotel in New Kingston on Tuesday to hear how they will be paid but were left disappointed with the Liquidator's comments.

The Liquidator, Dalma James, told the investors that there was no money to pay them next month.

The largely middle-aged to elderly crowd numbering over 30 informed RJR news on Tuesday that they had invested some or all of their live savings into the company.

It is understood that the company went into receivership on January 12 and proceeded to close its Mandeville and Montego Bay offices without notifying investors.

The investors say they found out about the closure after they were contacted by the Liquidator in March at which time they had their first and last meeting with Mr. Blythe, Chairman of UGI Finance's Board of Directors.

One incensed investor, Verona Black-Brooks says it was the company's suggestion that the matter be kept quiet which prompted her to contact the media.

Mrs. Black-Brooks says she has over 15 years of life savings in the company and she has been left without a cent.

"My concern is because I work hard for my honest bread and the bank has closed with all my hard earned cash. I have no money, I have to be borrowing people's money and I don't know how I'm going to repay them. I need my money and I don't know how I'm going to get it back," she said.