DEMAND FOR LEONTEQ’S
AWARDS TO BE WITHDRAWN
DEMAND FOR LEONTEQ’S SWISS DERIVATIVES AWARDS TO BE WITHDRAWN
On behalf of hundreds of victims of the Continental Wealth Management pension and investment scam – many of whom have lost huge proportions of their retirement savings – I hereby demand that the awards given to Leonteq at the Swiss Derivative Awards 2018 should be withdrawn immediately.
It is a sickening afront to decency that this award was ever given in the first place. The judges must surely have known that Leonteq had facilitated a major, multi-million-pound scam with Continental Wealth Management between 2010 and 2016. Leonteq has had the audacity to brag that “the awards are proof that Leonteq has a dedicated, strong and highly service oriented team in place. We are very proud of the recognition of our work, and would like to sincerely thank our clients and partners for their trust”.
Leonteq is “proud” of the destruction it has wrought on hundreds of people’s pensions and investments?
Leonteq has paid not a penny in compensation to its many victims – many of whom will die from stress-related illnesses due to the losses suffered from Leonteq’s toxic, high-risk structured notes. Leonteq was paying unlicensed scammers Continental Wealth Management commissions of between 6% and 8% to peddle these risky notes – which amount to nothing more than gambling. None of these notes were suitable for low-risk pension savers as the documentation clearly stated that there was a danger that investors could lose part or all of their capital.
Leonteq’s rogue employee, Alex Robinson, also put together an extra high-risk toxic structured note especially for scammers such as Continental Wealth Management to earn a further 2% commission. After sacking Robinson for promoting this fraudulent product, Leonteq then re-employed him.
To reward Leonteq for such behaviour, for facilitating a £100 million investment scam, and ruining many hundreds of victims, is a disgrace. This abomination brings shame upon Switzerland as a jurisdiction which tolerates such disgusting practices, and also brings the reputation of financial services into disrepute.
Kindly pass this email on to all those responsible for the Swiss Derivative Awards and ensure that the judges are removed and replaced with competent judges who do proper due diligence before handing out awards to a firm which facilitates financial crime.