By Euro Weekly News Media • 21 April 2018 • 8:00
PROPERTY FAIL: Danny Murphy and Robbie Savage claim they were given bad advice
FOOTBALL pundits Robbie Savage and Danny Murphy are suing Coutts – the Queen’s bank – after reportedly losing a fortune in a Costa del Sol property deal.
The former Premier League stars, plus ex-Leeds striker Brian Deane and one-time Blackburn Rovers winger Jason Wilcox are understood to have invested almost €7 million into an alleged tax avoidance deal based around an apartment complex.
Savage works on Radio Five Live while Murphy appears on the BBC’s Match of the Day, and the pair have launched a lawsuit against Coutts and its parent the Royal Bank of Scotland after claiming they were poorly advised over the scheme.
They both also bought a flat in the development after securing loans from Coutts and RBS Gibraltar, after directors of financial adviser Kingsbridge Asset Management convinced them to invest.
HM Revenue and Customs have already probed a number of claims brought against the firm in relation to the property scandal in addition to shady film investment schemes.
The commentators are said to be seeking damages, legal costs and interest.
They are being represented by law firm Peters & Peters, while Coutts has denied wrongdoing.
A court statement by the bank said: “Coutts acted as a reasonable and prudent bank in considering whether to lend to the claimants based on their circumstances and ability to repay the loans.”
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