But no Hoops fans were affected by the con and the club was quick to axe the link with Goodwin after FIMBRA
But the club pulled the plug this week after the regulatory watchdog FIMBRA
began an investigation into Caledonian over alleged irregularities.
There was savage criticism of the scheme by the former financial advisers' regulator Fimbra
, now part of the Financial Services Authority.
But Celtic pulled the plug on Glasgow-based brokers Caledonian Investments, which runs the two offshoots, after it was investigated by financial watchdog FIMBRA
over alleged irregularities.
The West Bromwich approved about 700 equity release mortgages through Fisher Prew-Smith (FPS), a firm which had no long track record in the financial industry and had only just been approved by the former financial advisers' watchdog FIMBRA
The Record revealed that watchdog FIMBRA
was probing Glasgow-based Caledonian Investments Ltd over alleged irregularities.
The inquiry, by financial watchdogs FIMBRA
, has been going on for several weeks.
He was authorised by the watchdog organisation FIMBRA
from May, 1988, but surrendered his authorisation at the end of 1994.