An islander in Jersey is warning people to be careful with investments, after he lost his entire £50k pension pot to a fake venture.
Alan Jarrett had already worked with his financial adviser on two mortgages, when he persuaded him to move some already invested money to a property scheme in America.
But, Alan eventually found out his adviser had taken the money for himself and spent it in just 48 hours, even buying a luxury holiday in the Caribbean.
It comes as Jersey Financial Services Commission has launched a campaign to raise awareness of the dangers of rip-off investments.
Alan had known his adviser for more than two years and even went to dinner at his home, but is warning people to be careful with who they deal with.