Francisco Guerrero went from being a lucky man to lose all his money in an incomprehensive investment with risky banking products.
Francisco Guerrero It went from being a mason to a millionaire almost overnight. On April 14, 2005, He won 6.5 million euros in La Bonolotobut a few years later, lost all his money for a financial decision that ended up being a complete mistake. The cause: an investment in high -risk banking products that had no knowledge.
The case of Spanish is an example of what can happen when Banking entities do not correctly report their customers. In 2020, a judicial ruling condemned Banco Santander to compensate him for the damages caused, but the story of this loss goes beyond bad luck.
The financial deception that ruined Francisco Guerrero’s life
Francisco Guerrero, originally from Cádiz, never imagined that his fate would change so drastically. On April 14, 2005, upon receiving the news that I had won 6.5 million euros in La Bonolotohis life took a resounding turn. Of being a construction worker With a modest salary, becoming a Millionaire suddenly. However, what seemed to be a gift of destiny soon became a nightmare.
The mistake he made was Trust your fortune to financial products offered by Banco Santander. Without knowledge about finance, the Spanish was deceived by bank advisors who convinced him to invest all his money. The lucky one thought he was investing in fixed term deposits, without understanding the associated risks.
The product in question, considered toxic, not only did not guarantee the security they had promised, but In a few years, Guerrero’s money disappeared. In 2009, when he tried to withdraw a small sum of his investment, discovered that there was nothing left. The bank had not informed him about the inherent risks, which led the mason to face a bitter and expensive battle to recover the lost.
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The legal battle against the bank and compensation
After the financial disaster, Francisco Guerrero decided to legally fight against the bank. In court, the Spanish He claimed that the bank had breached the financial advice contract and that he had not given enough or understandable information about the products he had hired.
In 2020, The court finally failed in favor of Guerreroand the company was sentenced to pay compensation of 163,000 eurosa figure that, although important, fails to restore what the Cadiz had lost. However, the process did not end there. Despite the partial victories, the mason continued to fight for greater compensation. In a later instance, claimed more than a million and a half euros for damagebut his demand was dismissed.
Source: Ambito
I am Pierce Boyd, a driven and ambitious professional working in the news industry. I have been writing for 24 Hours Worlds for over five years, specializing in sports section coverage. During my tenure at the publication, I have built an impressive portfolio of articles that has earned me a reputation as an experienced journalist and content creator.
