QFC 0030/2022, [2023] QIC (F) 29

Ahmed Al-Khateeb v Nexus Financial Services WLL

This case involved whether there had been misrepresentation by investment advisers on potential investments. Issues included the experience of the investor and extensive documentation on the risks the investor had seen and signed.

Background

The Claimant Mr Al-Khateeb, was at material times a customer of Nexus Financial Services WLL.In 2017, he made investments, totalling USD 450,000, through Nexus. He claimed  Nexus misrepresented to him the terms of the investments as a consequence of which he suffered financial and other loss. Mr Al-Khateeb brought this claim against Nexus for sums he claimed he should have earned on those investments, namely in a bond in September 2017 whose funds were then invested in a note in November 2017. Mr Al-Khateeb claimed the return of the capital sum of USD 450,000 he invested, further financial compensation and an apology. Nexus denied liability.