An investigation has been launched by Barclays bank against 48-year-old Suphil Philipose, who had approached a customer who was a victim of a scam to invest in his start-up which claims to provide a turmeric-based cure for Alzheimer’s disease. Philipose who is an expert in global fraud management, helped Caroline Cornish-Trestrail after she lost £170,000 of her savings and then asked her to invest £5,000 into his company Bioturm (founded in 2017). He sells a supply of six months at £119.94 based on Ayurvedic claims.
The Times reported, “Philipose is the sole director of Bioturm, which is based in Northampton, where he lives. The company produces a supplement called Biocurcumax, which it describes as “the world’s most researched bioavailable curcumin”, with “anti-inflammatory, anti-oxidative and anti-platelet properties”.”
A spokesman for the bank was quoted in The Times, saying: “We’re pleased to have returned the funds that were lost in this scam to our customer. We take the allegations raised extremely seriously and we’re in the process of reviewing the management of this case to ensure it met the high standards we set ourselves.”
