12 May, 2019 @ 12:11
1 min read

British MPs rally round Brits living in Spain who lost millions in dodgy Mallorca currency firm collapse

NOT OVER: Charlie Elphicke MP (left) seeks a debate on Premier FX collapse

DOZENS of British MPs are calling for a debate on the dodgy collapse of a Mallorca-based foreign exchange firm after an Olive Press probe revealed scores of expat victims.

Premier FX, based in Palma, ceased trading last July, leaving behind millions in unpaid debts and hundreds of people, mostly Brits living in Spain, without their savings.

British victim, Pauline Creasy, revealed to the Olive Press this week how a ‘coalition’ of 25 MPs led by Dover MP Charlie Elphicke were spearheading the issue in Parliament.

The single mother from Elms Vale confirmed concern was growing at Westminster over how the investigation into FX trading has been handled.

Elphicke has set out to secure a debate to register the dissatisfaction and concern the Premier FX victims have raised about the investigation.

FLASHBACK: The Olive Press breaking the story

The former lawyer turned MP said: “It is not acceptable for police not to investigate when British citizens are defrauded of tens of millions of pounds.

“I will continue to work with Pauline to push for this to be scrutinised properly and treated as criminality – because that’s exactly what it is.”

The political intervention comes as British expat Dale Brazil, who lost £30,000, told this paper she has grown concerned the UK Financial Conduct Authority has ‘shut down’ the investigation after a ‘disgraceful’ nine months delay.

“Members of parliament are pursuing this relentlessly but seem to be getting shut down mainly by the FCA and Surrey police saying they do not have the resources to investigate,” the Santa Catalina based Brit told the Olive Press this week.

“It begs belief that nine months after reporting the fraud, Surrey Police are telling us now that they refuse to investigate.”

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