Offshore money, huge fees, suspicious payments and a phantom head of the KGB - just some of what a group of ordinary British savers discovered when the £46 million fund they had invested in collapsed. Each year, a billion pounds is lost in failed investment schemes. Panorama tells the story of one of them and follows investors as they try to unravel the truth about the Blackmore Bond, a Manchester-based scheme, and challenge the regulators they believe failed them.