The boss of a Florida-based financial firm has made a tearful video apology to clients after bad bets on oil and natural gas prices wiped out their investments.

James Cordier blamed a recent bout of market volatility for the losses, which are set to destroy his firm.

“I truly invested your funds like you were family,” he said in the 10-minute video posted on YouTube.

“I’m sorry that this rogue wave capsized our boat.” Read more here.