DORRIXO Alliance is a pension trustee firm (for London Quantum among various others) run by Stephen Ward and his sidekick Anthony Salih
THE WAY THE SCAM WORKED
Dorrixo was a pension scheme administration and trustee company set up by Stephen Ward. It was the trustee for at least a couple of schemes – possibly dozens or more (including London Quantum placed in the hands of Dalriada by tPR in June 2015).
THE IDENTITY OF THE MAIN PLAYERS
Stephen Ward and Anthony Salih
HOW THE MAIN PLAYERS WERE INVOLVED
Trustees/administrators for a number of pension schemes operating either liberation or questionable investments or both. The victims first started to be scammed into the London Quantum pension scam in August 2014.
Dorrixo Alliance was the trustee/administrator for a number of pension liberation scams operated by Stephen Ward after Ark and Evergreen got shut down. When Ward moved away from liberation scams he moved into toxic pension assets which paid handsome investment introduction commissions.
Dorrixo Alliance was trustee for the London Quantum Occupational Pension Scheme – later London Quantum Retirement Benefit Scheme . This scam was placed in the hands of Dalriada Trustees in 2015. London Quantum was a bogus occupational scheme and had 96 members with a total of £6.8 million. The sponsoring employer was Quantum Investment Management Solutions LLP and the administrator was Stephen Ward’s Premier Pension Transfers Ltd.
The advisory firm behind this scam was an associate of Stephen Ward’s – FCA-registered Gerard Associates, run by Gary Barlow. A herd of “introducers” was responsible for scamming victims into London Quantum included Viva Costa International, Go BMV, Baird Dunbar, What Partnership.
The assets of the scheme included Dolphin GmbH, Best International (ABC Corporate Bond and Dubai Car Parks), The Resort Group, Quantum PYX Managed FX Fund, Reforestation Group Ltd, Park First, Colonial Capital Group plc. None of these were suitable for a pension fund.
The London Quantum scam was Suspended by tPR and placed in the custody of Dalriada Trustees in June 2015.