Users of the collapsed gambling website Football Index, which crumbled in March 2021, will not be compensated with public monies, according to a UK government minister.
On Tuesday, Nigel Huddleston spoke at a special parliamentary debate on “the impact of the collapse of the Football Index,” in which a number of MPs told heartbreaking anecdotes about constituents who have been devastated by the collapse.
After virtual footballer shares worth £120 million vanished into thin air, many compared the platform to a “Ponzi scheme.”
The UK Gambling Commission was in charge of the company, and it has been accused of ignoring warnings about risky business practices.
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