Tag: Metis Law

  • CAPITA OAK PENSION SCAM AND THURLSTONE LOANS

    CAPITA OAK PENSION SCAM AND THURLSTONE LOANS

    Capita Oak – the perfect scam

    This is a letter I wrote to XXXX XXXX´s solicitor back in April 2017.  It was ignored.  Of course.

    Dear Thurlstone, (XXXX XXXX)

    I am now preparing the appeals for the Capita Oak victims against the tax assessments issued by HMRC in respect of the 5% Thurlstone “loans” which are being treated as unauthorised payments.  What I require is full disclosure as to the exact source of the funds for these payments.
    CAPITA OAK PENSION SCAM AND THURLSTONE LOANS
    HMRC Protected Assessment – tax demand for the Thurlstone loans
     
    My problem is that there is scant evidence along the audit trail to be able to prove exactly where the loans came from and I need to be able to establish that the money did not come from the pension funds – if possible.  Indeed, from the point of transfer, pretty much every penny is accounted for as the money passed through the various scammers’ hands from the ceding providers to Metis Law solicitors.  Along the way, some fees were paid out as summarised by the Insolvency Service:
     
     

    “£100,873 paid to Metis Law on behalf of Hawkshead Properties in lieu of fees due to NATIONWIDE BENEFIT CONSULTANTS                                                                        

    £86,632 paid to Alan Fowler 


    £83,485 Paid to WJP Admin and Copeland South for Bill Perkins

     

    £73,811 paid to KE Media Services Ltd for Jason Holmes                                                                                             

    No fee payments were made direct to NATIONWIDE BENEFIT CONSULTANTS but in addition to the payment made to Metis Law on behalf of Hawkshead Properties a payment of £100,558 was made from funds held by Metis Law to THURLSTONE on the instruction of Karl Dunlop who told me who the person was behind Thurlstone (XXXX XXXX) – the “Ginger Scammer”).”

     
    So, we know that the individual behind Thurlstone – XXXX XXXX – received £100,873 plus £100,558 i.e. £201,431 direct from the pension transfers via Hawkshead and Thurlstone.  But did he use any part of that money to pay the 5% loans to the victims?
     
     

    The £10.8 million worth of pension transfers is fully accounted for on its way from the victims’ original pensions through the hands of the scammers.  We now have hard evidence as to who was operating the Thurlstone loans – as had been stated by Karl Dunlop when interviewed by Len Fenton of the Insolvency Service.  So where did the loan money come from?

     

    It would be much appreciated if the operators of Thurlstone would provide this information as it is required for the tax appeals immediately, and will also be needed for the Tax Tribunals in due course.  As the individual behind Thurlstone also runs a company called Nationwide Tax Administration, I have no doubt he will appreciate the seriousness and urgency of this matter for which he is responsible:

    https://beta.companieshouse.gov.uk/officers/4fJ6N2QgENAewXq8q2BPVbH823s/appointments

     

    I have asked whether the individual behind Thurlstone (XXXX XXXX) could repay the £201,431 he received from the Capita Oak scam so that it can be used for the benefit of the victims.  Undoubtedly, this “gentleman” will appreciate the distress the 300 victims are experiencing now that on top of fearing the total loss of their pensions, they have just received tax demands from HMRC because of the Thurlstone loans.

     

    There isn’t time to tip-toe around this issue as we only have about three weeks left to appeal the tax assessments.  It would be really good to see some degree of honesty, honour and decency after all the nefarious conduct of the past four years in the Capita Oak matter.

  • CAPITA OAK – THE GINGER SCAMMER

    CAPITA OAK – THE GINGER SCAMMER

    In the Capita Oak pension scam, the “Ginger Scammer” – XXXX XXXX – is reported to have earned over £200k in transfer/administration fees alone. It is not known how much he earned in investment introduction commissions.

    The Ginger Scammer can afford to stump up some cash for the benefit of the victims of the Capita Oak and Henley Retirement Benefit Scams. Over a thousand victims are facing the partial or total loss of their pensions and are also now being pursued by HMRC for tax liabilities on the Thurlstone liberation “loans” operated by XXXX XXXX

    Here is the email sent to the lawyers acting for XXXX:

    Dear Dick

    I am setting out below the redacted tax appeal in respect of “Mr. X”.  He had the largest transfer in Capita Oak – and by definition the largest Thurlstone loan (operated by XXXX XXXX and Tom Biggar) and resulting tax demand.
    Mr. X’s case was the subject of a Pensions Ombudsman’s determination where Capita Oak was clearly stated to be a scam.   Undoubtedly the Ginger Scammer is familiar with the Ombudsman’s determination: https://www.pensions-ombudsman.org.uk/wp-content/uploads/PO-3590.pdf
    Further, I am sure you have seen the FCA sanction against IFA Popplewell:
    £128 million worth of pensions investments is an awfully big number and I am sure that after all the money your client earned out of these scams, he can come up with sufficient funds to place in a secure account for the benefit of the victims who are now being pursued by HMRC for tax on the Thurlstone “loans”.  Although it is a matter of public record that XXXX earned well in excess of £200k in transfer fees in Capita Oak alone, it is inevitable that he will also have received some introduction commissions.
    The Thurlstone loans were operated by XXXX XXXX and therefore he must take responsibility for the tax liabilities on behalf of the victims.  Can you please both get back to me by return.  Ignoring this situation and turning your back on the Capita Oak victims is not an option.
    Regards, Angie
    ——————————————————————————————————————————————————-
                                                                                                                                                  

    HMRC Specialist Personal Pension Schemes Services – Attn Lynn Faulkner                                            11 April 2017

    Fitz Roy House

    Castle Meadow Road

    Nottingham NG2 1BD,

    United Kingdom

    Dear Ms Faulkner

    Ref: Mr. X: UTR: 9227156060 – Amount of Assessment: £31,473.89


    Please accept this as the appeal and request for     postponement of the tax sought by HMRC on behalf of the above-named taxpayer in respect of the protected assessment issued.  The grounds are as follows:
     

    1.       Capita Oak was registered by HMRC on 23.7.2012 (PSTR 00785484RM) by Stephen Ward of Premier Pension Transfers of 31 Memorial Road, Worsley and Premier Pension Solutions of Moraira, Spain.  

    2.       Capita Oak was also registered by the Pensions Regulator (PSR12006487) who had placed Ward’s Ark schemes in the hands of Dalriada Trustees – yet allowed him to register a further scheme with no regard to the risk that it might be a scam (as indeed it was).

    4.       This taxpayer – along with 300 other victims – was given the Thurlstone loan on the basis it was definitely not taxable by an individual who purported to be a financial adviser.  Had the victim known this would be treated as an unauthorised payment, he would not have gone ahead with the transfer. 

    5.       The Thurlstone loans were processed by two CII members practising as financial and tax advisors. They would have known there was a risk the loans would constitute unauthorised payments and result in tax assessments by HMRC.  

    6.       Once the transfer request had been signed by the victim, there was nothing further he could have done to influence any further transactions since these would have been outside of his control.  The trustees, Imperial, and the Thurlstone loan company were by now in total control of the transfer, investment and loan.  The victim had zero input or influence over what happened subsequent to the transfer being executed by the negligent ceding providers. 

    7.       There appears to be no evidence whatsoever that Capita Oak was set up for the purpose of providing an income in retirement for the members.  It must be questioned, therefore, whether it even constituted a pension scheme at all – save for the valid HMRC and tPR registration numbers.  As supported by the Insolvency Service’s witness statement, the following are compelling reasons why this was a bogus pension scheme from start to finish:

     ·         The trust deed was forged

    ·         The sponsoring employer – R. P. Medplant Ltd was stated to be in Cyprus

    ·         The sponsoring employer – R. P. Medplant Ltd did not exist – although there was a company registered in Cyprus called R. P. Med Plant Ltd (which was also used for the subsequent Westminster scam).

    ·         The scheme was set up purely as the “super fund” of a bunch of known, serial scammers, to earn investment introduction commissions of 46% out of Store First’s store pods

    ·         The scheme’s own bank – Barclays – didn’t know it was a pension scheme – and when Barclays eventually realised this, they blocked the account

    ·         No arrangements were ever made to communicate with the members.  Once the various scammers in their respective roles had earned their fees and commissions, they all simply walked away and abandoned the scheme and the members

    ·         The transfer administration was carried out by Stephen Ward, Level 6 qualified CII and author of the Tolleys Pensions Taxation Manual.  After the disasters of both Ark and Evergreen, Ward would have known he was condemning all the victims – whether transferring from personal or occupational pensions – to certain financial ruin and potential unauthorised payment charges

    ·         The unauthorised payment charges arose from the Thurlstone loans and the tax should, therefore, be sought direct from the extremely wealthy scammers – not from the victims of the large-scale Capita Oak scam.

    Angela Brooks – Chairman, Pension Life Group Action 

  • CAPITA OAK UPDATE AND INFORMATION REQUIRED

    CAPITA OAK UPDATE AND INFORMATION REQUIRED

    Capita Oak Pension Scam

    For the benefit of all 300 odd members of Capita Oak, here is an email that was sent today to Downs & Co, the accountants acting on behalf of Christopher Payne, the director of the trustees Imperial. This email has been circulated to many Capita Oak members and other interested parties such as the police and the BBC who are preparing a documentary on the subject.

    Hopefully it will not be too late to blow the whistle on this situation and rescue the members’ funds: https://pension-life.com/#!whistle/c13e7

    Admittedly, the contents of this email raises more questions than it answers, but it does at least go some way to establishing how many members there are, how much in total was transferred and who the various parties were who received money from the transfers. What it does not yet establish is what the 10.14 million paid to Metis Law is now actually worth and how (or if) it can be recovered.
    Dear Mr. Downs (info@downsandco.co.uk)

    Referring to our earlier correspondence, will you kindly ask your client Mr. Christopher Payne the following questions:

    1. A total of 10,810,301.57 was transferred in to Capita Oak from approximately 300 members and a total of 10,666,066.14 was paid out. This should leave a balance of 144,235.43 and confirmation is required that this is indeed the amount remaining in cash.

    2. A total of 82,911.31 was paid out in “PCLS” payments and confirmation is required as to what these payments were and who authorised them.

    3. The following “PCLS” payments were made and confirmation is needed as to who these people were and why these payments were made, upon whose authority:

    -5,054.24 J Whyte
    -8,854.53 G Rose
    -21,875.72 W Daniels
    -5,758.99 Mr Clemson
    -5,286.32 Mr. Charlesworth
    -17,231.51 Pamela Holt
    -18,850.00 A Levitt

    4. A total of 441,751.85 was paid to TKE Admin (of which Mr. Payne was a director). This was paid to TKE on 27 different dates between 12.11.2012 and 5.7.2013. Please explain what these payments were for and who authorised them.

    5. Premier Pension Transfers were apparently handling the transfers but there is no record of any payment to them for their services. How were they remunerated and why were two administration companies involved and who appointed them?

    6. A total of 10,140,598.27 was remitted to Metis Law between 11.20.2012 and 7.5.2013. Confirmation is required that Capita Oak now holds 10,140,598.27 worth of assets and exactly what income these assets are supposed to generate and whether they are unencumbered. Further we need evidence of title to these assets and a full explanation as to who authorised 100% of Capita Oak’s assets to be placed in illiquid property with very little liquidity remaining for transfers out.
    7. An explanation as to how and by whom the Thurlestone “loans” were transacted, administered and recorded.

    There will of course be numerous further questions which your client Mr. Payne will be required to answer, including why he has not contacted me or answered my calls. As I am sure you appreciate, as former and current director of Imperial Trustees, Mr. Payne is liable for any risks to Capita Oak and responsible for the members’ interests, investments and any non-compliant transactions linked to the pension, such as the Thurlestone loans of 5% of the value of the transfers.
    In the case of Ark, professional independent trustees were appointed by the Pensions Regulator and the majority of the assets were eventually recovered. However, this is not the case for the Capita Oak victims – who are extremely distressed – and therefore we are all relying on the full cooperation and disclosure by you and your client Mr. Payne.

    Your early response will be much appreciated. As I am sure you will be fully aware, this situation is being closely monitored by the police and the BBC, as well as the members and if you or your client Mr. Payne are unable to answer any of the above questions you must refer me to any other connected party who is in a position to do so. You will see that this email is copied to the Police, Store First and Metis Law.

    Regards, Angela Brooks – Chairman, Ark Class Action