An asset management company run by a former Tottenham Hotspur football player has been ordered to pay compensation by the Financial Ombudsman.
Vega Swiss Asset Management was founded by Swiss international footballer Ramon Vega in 2008.
The businessman, who has a business degree specialising in banking, finance and corporate finance from the Zurich Business School, played for Spurs from 1997 to 2001 as well as appearing for Switzerland 23 times including in the Euro 1996 tournament.
Vega Swiss has been ordered to pay compensation to a client who said the firm had not paid an agreed refund of fees to him.
The fees relate to a foreign exchange trading arrangement, whereby Vega Swiss would speculate through foreign exchange trading on behalf of the client.
A fee for the service was agreed and paid in advance. When the arrangement stopped in 2014 Vega Swiss agreed to repay fees totalling £73,784.26 over a 12-month period.
The client said he received just £15,000 of what was owed. Vega Swiss did not deny the claim but disagreed with an investigator decision that it should pay the outstanding sum.
The Financial Ombudsman agreed that Vega Swiss should pay the balance of the sum – some £58,784.26 and should also pay interest of 8 per cent a year, backdated to when the payment was overdue in May 2016.
