AZURE PENSIONS – a reputation built on lack of trust. Azure Pensions is the new name for Integrated Capabilities – a trust company in Malta. They claim to be the retirement solutions arm of Integrated-Capabilities.
The Azure website states: “We believe that trust is built and earned. As such we have an ingrained and sustained desire to develop long term relationships with our clients”.
Another claim made by Azure Pensions is: “Our people are highly experienced, knowledgeable and motivated to do their utmost to ensure that they deliver a superior, professional and hassle-free service.” But this firm, and the people in it, have a history of working with scammers and investing members’ retirement funds in investment scams such as Phillip Nunn’s Blackmore Global and Richard Reinert’s Symphony Fund.
I am not sure how this bunch of cowboys think they could ever have built or earned trust by accepting transfers and investment instructions from known unregulated scammers Square Mile and David Vilka. And why would victims “desire” to have a long-term relationship with Azure (ICML) when funds are placed in an unnecessary, expensive insurance bond by Investors Trust in the Cayman Islands (the only purpose for which is to pay commission to the scammers)?
Azure Pensions also claims that one of its partners is Carey Pensions UK LLC. Personally, I wouldn’t brag about that – but would sever all connection with Carey (if I cared about my firm’s reputation). Carey is in hot water for allowing investments into high-risk scams, and is also now part by STM – undoubtedly the biggest scammers in the offshore pension trust industry. However, it is clear that Azure, or Integrated Capabilities – or whatever they are calling themselves this month – do not care about their reputation.
It is thought that Azure/Integrated Capabilities has at least 1,100 victims invested in scam funds such as Blackmore Global and Symphony by scammers such as David Vilka of Square Mile. It looks like most – if not all – of these victims were UK residents who should never have gone into a QROPS at all in the first place. The only reason for transferring these pension funds to a QROPS was to get the money away from UK regulation so that the scammers could invest them in commission-paying UCIS funds – such as Blackmore Global.
Hopefully, the public will be very wary of Azure – and make sure their pension funds don’t go anywhere near this bunch of cowboys – until long after they have sorted out the Blackmore Global mess.
Azure states on their website that: “Notwithstanding your appointment of a Financial Adviser, ICML has an overriding right to refuse to make investments, or to disinvest, where it believes that a particular investment proposal may not be “consistent with the Scheme’s Investment Policy or any investment restriction applicable under Retirement Scheme Law.”