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Tower Hamlets and Newham

You are in: London > TV > London Local > Tower Hamlets and Newham > Help for victims of First Solution failure

Dr Fazal Mahmood

Chairman, Dr Fazal Mahmood

Help for victims of First Solution failure

People who have lost money from the collapse of the Brick Lane money transfer firm, First Solution, can now call a special helpline

A helpline has been opened to offer advice to people who have lost money following the collapse in June 2007 of First Solution, a money transfer firm that was based on Brick Lane.

The number to call is 0845 602 2548, from Monday to Friday, between 9.30am and 5.30pm.

The money transfer firm faced trouble following complaints that millions of pounds were failing to reach people's relatives in Bangladesh. The issue was highlighted by local newspapers and television networks, including BBC London.

First Solution's accounts show that it served more than 120,000 customers since July 2006, handling £87 million worth of transactions. But management failures lead to a backlog of payments, and the company subsequently received complaints.

It is estimated that up to £1.7 million pounds of people's money has been lost, affecting more than 2,000 customers.

The company is now the subject of a police investigation.

angela.saini@bbc.co.uk

last updated: 23/07/07

You are in: London > TV > London Local > Tower Hamlets and Newham > Help for victims of First Solution failure

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