MP hails legal probe into Farepak fiasco

LIVINGSTON Labour MP Jim Devine has welcomed government moves to take legal advice on whether Farepak directors should face legal action over the collapse of the Christmas savings club.

But he stressed that if there was no legal action the 700-page investigation into the company must be published.

Families throughout the country lost millions of pounds in savings when the Swindon-based firm went into administration in October 2006. Mr Devine said: "While I welcome the fact the Government is taking legal advice, I am concerned that unless directors end up in court, this report will not be published.

"That will be totally unacceptable to the 123,000 people who lost nearly £40 million when Farepak collapsed.

"Since the collapse we have heard Farepak and HBOS say the collapse has nothing to do with them, but Farepak customers are entitled to know where their money went."