TONY HETHERINGTON: National Grid Gas bonds are a lot of hot air

Tony Hetherington is Financial Mail on Sunday’s ace investigator, fighting readers corners, revealing the truth that lies behind closed doors and winning victories for those who have been left out-of-pocket. Find out how to contact him below. 

M.L. writes: I am sending you details of an investment I have been offered. 

Is this for real, or is it a scam? 

Tony Hetherington replies: Let’s get straight to the point: it’s a scam. The cunning part is that these bonds do exist. They were issued many years ago and mature in 2025, so if you Google them, you will find they are real. However, the only way to get your hands on them today is through the stock market, where you would have to pay a lot more than face value so would get a lot less than 8.75 per cent. The fraudsters who called you and then emailed the details have dressed this up to look like a savings account.

They have faked the Credit Suisse letterhead and logo and told you that your investment is protected by the Financial Services Compensation Scheme. They even say: ‘You can make additional deposits into your new account throughout the entire period of your investment.’

In reality, there is no account.

The crooks say they are at 1 Cabot Square in Canary Wharf in London. This is the address of the real Credit Suisse, but when I contacted it earlier this week it was clear the investment offer was not from the bank.

A spokesman told me: ‘There has been an increase in recent years of consumers being targeted by fraudsters who are exploiting the brands of international banks, sometimes through the use of fake websites or impersonating employees.

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