Woman accuses company of 'misselling' investments

A woman filed a judicial protest against an investment firm claiming that the €10,000 she invested were lost, resulting in serious financial repercussions. Carmen Micallef, 50, from Rabat, claimed that she invested the sum in Lifemark SA Secure Income Bond through Global Capital Financial Management Limited. Ms Micallef claimed that she lost the funds as a result of the company’s “negligence” while also alleging the company failed to “abide” by the financial services regulations. She stated that when she sought the advice of Global Capital, she was not given a copy of the documents the company requested her to sign. Ms Micallef said that the company breached the Civil Code of the Consumers’ Act as she was not a suitable client for such an investment. She, therefore, held the company responsible for her losses as she accused it of "misselling" the product. Lawyer Anna Mallia signed the writ.