Don’t bank on the Isle of Man
July 28th, 2009
A personal experience from the Isle of Man:
I deposited my life savings with Kaupthing Isle of Man which promised me that my money was safe in its hands. Then on 8 Ocotber 2008 it closed its doors! Now I have been reduced to near poverty. I can’t claim social security because I have a half share in a house but I can’t sell my half share. Banks on the IoM want your money and tell you anything to get it, but if they go belly up you are sunk! So, my advice to everyone is “don’t bank on the Isle of Man”