A man has lost his High Court challenge to the Financial Service Ombudsman’s rejection of his complaint against Bloxham stockbrokers over its advice concerning a bond which later collapsed in value.
John Caffrey (77), of La Touche Park, Greystones, Co Wicklow, claimed he suffered substantial losses arising from his €50,000 investment in 2005 in Saturn bonds, which was intended to provide him with a long-term source of income. In 2009, Bloxham informed him he would receive only three cent for every one euro invested.