Madden & Finucane Solicitors have today released a press statement on behalf of their client, Francois De Dietrich, in response to financial allegations raised recently in the press and media.

Mr. De Dietrich, on behalf of Etic Solutions Limited, said:

In response to continued media speculation surrounding our ongoing dispute with the FSA we now wish to make the following facts known to interested parties.

Our position in relation to this matter has not changed since the charges were first levied against us. We stand firm in strenuously denying the claims of the FSA which have been magnified in various quarters, not least the media.

We are actively pursuing our defence to the allegations, and the negative implications these have had on a number of levels. We are extremely confident that in due course, the FSA and sections of the media will themselves have many questions to answer.

We are acutely aware that there may be a racial motive behind this entire investigation – an INVESTIGATION ONLY, which has resulted in harassment, defamation of character, libel, slander, innuendo not to mention serious financial hardship for so many. Far from hiding and refusing to deal with the issues, as portrayed in sections of the media, we are at present actively conducting our own intensive investigations.

This has a twofold strategy. Firstly, we are adamant that we will continue to fight back vigorously against the sanctions imposed by the FSA. And secondly, we have established our own course of action to commence proceedings against certain journalists, media outlets and others who have inaccurately reported aspects of this case.

We also feel it important to reveal the truth about our relationship with the FSA. Contrary to the image being portrayed via the media, we are not in fact being elusive and uncooperative. In fact, we would like the public to know that ETIC Solutions, through our team of representatives, have actually made countless attempts to meet with, cooperate with, and even make additional funds available to, the FSA, so that this matter may reach a more rapid conclusion in the best interests of all stakeholders. All such offers and requests have been rejected. This is in stark contrast to the FSA’s ‘reassurance’ that they are acting in the best interests of our clients. We maintain that this approach is designed to further damage our reputation, to delay repayment to clients, and to increase potential penalty fines. This approach is quite simply unacceptable.

We conclude by stating to anyone with an interest in this matter, that we will leave absolutely no stone unturned in our own attempts to bring a satisfactory resolution to this entire case.