A loveMONEY reader has lost nearly £270,000 to a clone firm investment scam. We look at how the criminals tricked him with a fake fixed-rate investment opportunity.




In November 2020, John (his name has been changed for anonymity) opened a business current account with Yorkshire Bank and transferred money from a previous account.

As John’s business was sadly struggling due to COVID-19 lockdown restrictions, he was looking into investment opportunities to bring money in, so he did some research online.

After filling out a form online, someone claiming to work for Mizuho Group got in touch about fixed-rate investment opportunities.

John was also sent details of the investments on offer, details of which he checked on the London Stock Exchange, including the ISIN,…

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