Man loses £230k in Icelandic bank crash

A MAN believes he has lost his life savings of £230,000, which he fears have been wiped out by the Icelandic bank crash.

Brian Lewis (67), of Eider Close, Barton-Upon-Humber, had his money in an offshore account with Kaupthing Stringer & Friedlander bank (KSF) on the Isle of Man.

"My wife and I opened an account with Derbyshire Building Society's offshore bank over 16 years ago," he said.

"As I have worked away for 44 years the offshore bank made it easy for me to transfer my monthly salary payments from different parts of the world.

"Derbyshire was taken over by the Icelandic Bank Kaupthing Stringer & Freidlander."

Mr Lewis, who is an engineer, has been working in the Indonesia province of West Papua for three months and returned home last Tuesday, when he had planned to retire.

He said he had been looking forward to spending his savings with his wife Shelia (64).

"This was supposed to be my last working trip, but with all our savings gone, we only have two months' salary to live on," said Mr Lewis.

"I had planned to pay for my daughter's wedding next year, which at the moment just is not possible.

Mr Lewis learnt that because his savings were held on the Isle of Man, they were not covered by the rescue package offered by the British government.

He may eventually get some money back through a scheme on the Isle of Man.