and despair over the company's cash crisis.

The 65-year-old Bermudian has recovered after battling the illness, but he was saving in case of another medical emergency.

He said the Televest crisis hit him as badly as the news that he had cancer.

The former warehouse supervisor, who retired early, lives in Paget. He does not want to be named.

But yesterday he spoke out as one of about 500 Bermudian investors together owed more than $8 million by Televest.

Investors in the firm were promised annual returns of seven to nine percent.

But last week the Supreme Court ordered that Televest and three related companies be wound up.

Televest was owned by Telecheck Holdings, a firm that operated 10,000 Signature and Travel Card credit cards.

The retired investor said he invested his money about three years ago after returning from prostate cancer treatment.

"They said nine percent and you could get your money back any time you wanted it.'' Then he discovered the company's current crisis.

"When somebody told me, I could have died. It was a funny feeling, like when the doctor told me I had cancer.

"It's devastating to me because that was a hunk of my savings.

"It was hard-earned money. I needed it for the future. You never know when you're going to have to pull it in for some sickness or something.

"I have no idea if I'll get it back. How are they going to pay back $8 million? Thank God my house is paid for.

"I don't know who to call or who to speak to. I have not heard a word from the company -- it's terrible.

"People tell me it's a private company, you can't do anything and it's not insured. I can't believe it.

"I can't see Government sitting back and saying to the people who voted for them that they can't do anything.'' The investor said he had seen a "beautiful'' house on Middle Road in Warwick and wondered whose it was.

Then he read it was being extended by occupant Mr. Richard Burns, a Televest co-owner.

The investor said he would not like to be in the position of those in charge of the company.

"I don't hate them for it because I wouldn't like to be in their shoes. One way or another they're going to pay for it.'' Liquidators have been appointed for the Telecheck group on a provisional basis pending Supreme Court hearings on December 29.

Lawyer for the directors, Mr. Julian Hall, has said he will argue the winding-up orders were unjustified.

Televest had "little or no indebtedness'', he said.

A top accountancy firm stopped working with Televest after it was unable to substantiate nearly $1.7 million apparently owed to the investment company by directors, officers and related firms.

Scott Hunter and Co. produced financial statements and an auditors' report for Televest in May, 1992 for the year ended March 31, 1992.

Last night Mr. Hunter would only say: "After the statements and report were completed the company and the auditor agreed that the auditor would not continue to service them.'' Notes to the financial statements say Televest had been "economically dependent'' on Commodity & International Investment Advisors Ltd., partially owned by Televest's common shareholders.

Assets totalling more than $1.68 million were due to Televest from "related parties'', the company balance sheet showed.

This figure had been only about $472,000 the year before.

The notes added: "These individuals and companies are private in nature and accordingly do not make available current, audited financial information.

"However, as management is familiar with the individuals and companies they are of the opinion that such amounts are fully realiseable (able to be paid back).'' Mr. Burns was "not available'' last night.