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SBD Global/May 1, 2013/Finance

Former Cricketer Paul Collingwood Sues Financial Advisor Roderick Langham

A financial advisor to the stars "is being sued by former England cricketer Paul Collingwood and his wife" -- who claim his negligent advice cost them at least £300,000 ($466,000) of their life savings, according to the MANCHESTER EVENING NEWS. Roderick Langham, who was managing director of Didsbury-based Sigma Wealth Management, "is accused of taking unnecessary risks with their money." Collingwood, 36, who retired from int'l cricket in '11, and his wife, Vicky, said that they invested more than £650,000 ($1M) through Langham. They say more than £400,000 ($622,000) of their savings "were put into 'high risk and unregulated collective investment' funds which 'did not suit their risk profile.'" Sigma, which according to its website counted former Bolton footballer Fabrice Muamba and Newcastle star Shola Ameobi as clients, "is now, along with Langham, facing a High Court damages claim from the cricketer and his wife" (MANCHESTER EVENING NEWS, 4/30).
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