CONTINENTAL WEALTH MANAGEMENT

The Web of Pension Scams

On the web of pension scams It seems as though criminal convictions against pension scammers might be getting popular. More than a decade has gone by with virtually none of the usual suspects getting jailed – despite a few criminal investigations (that, so far, have not resulted in convictions). Is the system really that hopeless

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Pension Scams Explained

Every offshore pension scam starts with a “financial advisor”. Or, at least, a slick salesman posing as a financial adviser.   This person can also call himself a “wealth consultant” or “senior associate”. After the scammer pretending to be an adviser, the next player is the life office. More accurately described as a “death” office, this

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Pension Scam Investments

The world of pension and investment scams is dominated and driven by commissions on investments (usually unregulated). The scammers’ strategy is always identical: get the pensions away from the safety of a reputable pension provider and into the hands of a SIPP, a SSAS or a QROPS. One purported benefit of these types of schemes

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Death offices such as Quilter International should now also stand trial for their role in offshore pension and investment fraud

Fraud Trial Against Pension Scammers in Spain

The Spanish criminal trial of so-called “financial advisers” in Denia has exposed the widespread fraud routinely committed in offshore financial services for over a decade. This particular stage of this particular trial may be directed at just eight members of Continental Wealth Management and Premier Pension Solutions. For now. But the case – brought by

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Rogue "life" offices Quilter International, SEB and Generali (Utmost Wealth) now due to face trial in Spain for facilitating pension and investment scams.

Spanish litigation: Quilter Ireland, SEB and Generali

Life offices who caused the death of victims and their life savings/pensions, will now face proceedings in the Spanish civil courts. Pension Life’s proceedings against the defendants are due to be launched before Christmas 2020. The defendants will be Quilter International (Ireland), SEB and Generali (which has changed its name to Utmost Wealth). In the

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RL360 and FPI - a marriage made in hell for the victims of mis-sold, high-risk, unsuitable investments such as structured notes, LM, Axiom and Premier New Earth

RL360 and FPI – ’til death (or poverty) do us part

RL360’s acquisition of Friends Provident International may be set to ruin even more investors internationally. It will certainly increase competition with Quilter (or Skandia, or Ann Summers or whatever OMI are calling themselves this season). The biggest question – and one which International Adviser’s Kirsten Hastings forgot to ask RL360 David Kneeshaw when she interviewed

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Scammers at CWM destroyed 1,000 victims' life savings totaling £100 million. CWM was shut down in 2017 when the scale of their crimes became too embarrassing for OMI, SEB and Generali to tolerate any longer.

CWM Criminal Trial 24th February 2020

The routine “sale” of insurance bonds (whether the clients need them or not – which 99% of the time they don’t) is illegal in Spain. Undoubtedly this will be similar or identical in other jurisdictions. The Spanish Supreme Court has ruled that insurance bonds are invalid for the purpose of holding investments. But still the scammers continue to flog them indiscriminately – purely for the fat commissions.

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