2 Comments

  1. Dirka
    July 29, 2018 @ 7:41 pm

    100% agree with this. Sooner than later before more lives are destroyed.

    Reply

  2. Stephen
    August 1, 2018 @ 10:09 am

    100% agree with this and it will probably happen when Nelson gets his eye back!

    The second sentence “All it takes is for the ethical stakeholders to outlaw the unethical ones” is perhaps the ONLY way the world is going to change.

    My QROP trustee in Malta (Integrated Capabilities Malta Ltd – https://integrated-capabilities.com/about-us/ and their administrators Optimus Pension Administration Ltd (OPAL) – https://www.optimus.co.im/services/pensions/qrops – I believed were also conned by those that scammed me and unwittingly hoodwinked into facilitating a pension scam. I always believed they were actually “good eggs” since they did their very best to extract me from the scam – whether they went further and helped the other victims I don’t know.

    However it was within their capability to blow the whistle on those orchestrating the scam, http://pension-life.com/not-so-square-mile-and-far-from-lilly-white/ and assist in shutting the bar stewards down. They could have supported my complaints to the CNB and the FCA. They must have had ( & still do I guess) a shed load of evidence behind the scenes I didn’t have that would conclusively prove to the regulators just what Tweedledum & Tweedledee were up to. They could also have worked to “outlaw” other QROPS that are not so cooperative at getting victims out as they had done with me – the likes of STM and Harbour (now sold to STM) to name just two.

    There is also a lot of pressure that could be made to bear on local regulators in Malta or IoM (for example), to shut down the bad QROPS and weed out the scammers.

    However I don’t think they have the will to apply that pressure and clean up their jurisdiction. Without pressure, regulators tend not to do anything constructive even though they have the legislative power. Local businesses could effectively apply that pressure.

    “Good QROPS” – there are those think this is an oxymoron – know what’s going on, but turn a blind eye; walk on the other side of the street whilst bad QROPS facilitate scams on innocent people.

    It is a sad state of affairs. There are no good Samaritans in the financial world – lots of sharks plus those that turn a blind eye!

    Reply

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