You are here: Home - Household Bills - News -

Victims lose £10m in health supplement scam

Written by:
Tens of thousands of people have fallen victim to a new scam involving rogue health supplement companies, according to the government.

Since 2016, the Insolvency Service has wound up nine health supplement companies after they scammed people, often the elderly and vulnerable, into unnecessarily buying their products.

These companies duped 36,000 victims out of around £10.6m, government figures estimate.

Consumer Minister, Andrew Griffiths MP, said: “These shocking supplement scams are targeting thousands of the most vulnerable people in our society. The Insolvency Service is playing a vital role in protecting consumers and cracking down on these cowboy firms.

“During Scams Awareness Month I am encouraging anyone who has fallen foul of these scams to speak up and report it, so we can stamp them out for good.”

In one case, Newbury-based Healthspring Wellness Product Limited contracted a call centre based in Mumbai to sell health supplements to the over 55s, who were either housebound or had difficulty in getting to the shops, on their behalf. The call centre deployed aggressive sales tactics and gave out false medical advice.

Following an Insolvency Service investigation, Healthspring Wellness was wound up in November 2017.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Autumn Statement: Everything you need to know at a glance

Yesterday Chancellor Jeremy Hunt made his first fiscal statement in the role, outlining a range of tax measure...

End of Help to Buy: 10 alternatives for first-time buyers

The deadline for Help to Buy Equity Loan applications passed on 31 October. If you’re a first-time buyer who...

Moving to an energy prepayment meter: Everything you need to know

As households struggle with the soaring cost of energy, tens of thousands of billpayers are expected to move o...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week