'Reckless' insurance broker banned

AOL Money Staff
Motorway
Motorway

An insurance broker has been banned from working in the industry and fined £212,000 after he left thousands of customers without the motor breakdown cover they paid for.


The Financial Services Authority (FSA) said Harbinder Panesar misappropriated money from his business and sold worthless policies as the director of South Wales motor breakdown insurance firm Motorcare Elite.
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