Gareth Has 2000 To Invest

Gareth Gates has shared how he was 'burnt' by an investment gone incorrect that saw him lose £250,000.

The 36-year-old singer recalled meeting someone challenge to be an good in trading strange currencies later on he saw 'wealthy friends' make coin, and was nifty to dip his own toes into 'the Forex (foreign exchange trading) thing'.

However, it didn't end well for the Pop Idol star.

He told the Sunday Times of his investment history: 'I'm more careful at present as I got burnt once and lost £250,000.

'I had a meeting with a guy who claimed to exist an good in trading strange currencies. He had a very good rail record and lots of my wealthy friends at the time had invested and seen a good return. So I decided to get involved.'

Explaining he initially invested 'about £100k', Gareth said he was told the render would be l% each twelvemonth.

Afterwards seeing the £50k return, Gareth, who was nifty to make sure he was setting himself up well for when the music stopped, said he decided to invest another £150k.

He said: 'And then I'd invested 250, yeah I'd had 50K back, only the 2nd year the monthly payments started to tedious up and we then plant out he'd blown the account. Everybody's money had been blown.

'He patently didn't have good risk management in place, and he'd got himself in too deep. He'd maybe lost some bad trades and tried to chase them and literally lost everybody's money, unfortunately. And I was a victim of that. I got nothing back and it was a big learning curve for me and I learnt a big lesson that I invested a petty bit more than I possibly should have.'

Still, the star has made some smart investment choices, owning a lot of holding including 'quite a few pupil homes in Essex' where 'the yield is better'.

He has also invented a range of coconut tea called Cuppanut, calculation: 'I've got my fingers in a lot of pies and from an early stage I figured out that maybe showbusiness won't last for always, so I realised information technology was important to invest in case information technology all ended tomorrow. I'd be pretty comfortable just with the properties I ain.'

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