Tag: pension liberation fraud

Trolley’s Pension Scam Guide

Pension scammers have a “code”. Rather like pirates, they are not to be trusted. They pick their words carefully, revealing little; they are sneaky and lack any morals. They are good at disguises and if they fear they may be rumbled, they will disappear over the horizon, never to be seen again. They certainly won’t hang around to help pick up the pieces after their victims have been ruined. Rest assured, they will take as much as they can get and show no remorse. Living the Life of Riley on your hard-earned money is their reward.

“Yo ho, yo, ho! A scammer’s life for me”.

Those of you who follow Pension Life, will know that we want to put a stop to pension scammers and are trying our hardest to get as much information as possible out to the public about how to avoid being scammed. We want to educate the masses and stop pension scammers worldwide.

Those of you who are new readers, may not be aware of how common pension and investment scams are, or how easily you could fall victim to a pension scam. But never fear, we have constructed a series of blogs, videos and cartoons for you to read and watch, so you can swot up on the dos and don’ts when it comes to safeguarding your precious pension fund.

This video has been constructed to show you the pension scammers’ code of conduct. By familiarising yourself with their techniques, you will be better prepared to spot the scammers and avoid falling victim to their schemes.

Please look through our archives and read about past scams, serial scammers and failures of the regulators and police to bring them to justice for their crimes. Make sure you know all there is to know about the evil and seemingly unstoppable world of pension scammers.

Above all, read the Trolley’s guide, and see how scammers learn their highly-profitable and destructive trade. Scammers learn from the best – including the author of this guide. And then they bring their own individual touch to the art of scamming.

October 2, 2018
FCA launches new ScamSmart campaign

Here at Pension Life, we are constantly trying to raise awareness about pension scams. The Financial Conduct Authority – FCA – has also been busy. Pairing up with the Pensions Regulator – tPR – they have published the ScamSmart campaign with the slogan – Be ScamSmart with your pension.

With the ScamSmart campaign, they have also made a video and published it on YouTube. Here is the video for you to watch:

Whilst I think it is great that they are publishing videos as part of the ScamSmart campaign, I can´t help but feel that they spent a large chunk of their budget on some bloke whizzing around on a jet ski.

The video does highlight what people need to look out for to be ScamSmart, but the repeated flashes back to the jet skier whooping loudly are, in my opinion, very distracting. I feel they deviate from the message they are trying to get across.

I would like to highlight that the rider of the jet ski does bear a remarkable resemblance to Phillip Nunn, cold caller and “fund manager” of the Blackmore Global investment scam. Blackmore Global was promoted by David Vilka of Square Mile International – David Vilka´s firm is not regulated to provide pensions and investment advice. However, he has never been prosecuted by the FCA for his involvement in this scam.

Phillip Nunn´s lawyers, Slater and Gordon, threatened Angie with defamation proceedings for exposing Nunn’s scamtivities. The video made by Pension Life in response to this reveals three serial scammers, two of which are still free to scam, while the other one: Peter Moat of Fast Pensions (who has had legal proceeding filed against him) is nowhere to be seen.

However, the FCA has done nothing to stop these scammers, nor other well-known ones and no prosecutions have been made. Whilst we are fully in support of educating the masses worldwide to ensure consumers can avoid falling victim to pension scams, this does beg the question:

WHY ARE THE FCA DOING NOTHING ABOUT THE KNOWN SCAMMERS?!?

If the industry was to put a stop to the masterminds, (like Stephen Ward), then surely that would be a giant leap in the right direction for deterring new-comers. As it stands, however, the “award-winning” scammers just seem to set a precedent. If you are good at what you do, your scams can be pushed under the carpet and you can live a life of luxury on the hard-earned cash of the scam victims, escaping punishment.

September 11, 2018
Katar Investment Weapons
Katar Investments say they give UK and overseas investment advice in a simple way. However, the types of investment opportunities they are offering are, unfortunately, once again, making my red beacon flash. So, with Déjà vu, let me tell you why. Please make sure you are comfy, this might take a while!

Firstly, I had a quick look into their team. In my opinion, you would hope that some of the people advertising about giving you advice on investments would hold some sort of financial qualification. However, out of the five team members listed only one mentions a background in finance, the others only list sales experience.

I had a quick check on the registers to see if the one team member who states she has 10 years´ experience in the financial sector, holds any qualifications with the CII, CISI etc. – she did not appear to have any registered financial qualifications.

Now, forgive me if I am slightly biased and ever so critical when it comes to firms giving investment advice, but I would hope that any firm giving me advice on what to invest in, would have a team of fully qualified financial advisers. Not just sales experts. Or am I just being fussy?

Katar Investments state:

“Whether you are looking for a steady income investment, a property investment with high capital growth and a quick turn around of your capital or an opportunity in the latest emerging market, we have something to offer you.

We are highly committed to our investors and are focussed (their spelling mistake – not mine) on delivering a level of customer service which is above and beyond. So rest assured our agents will strive to provide you a class A service when you Invest with Katar Investments.”

I feel that the salespeople who work for Katar Investments may well be driven solely by earning high commissions when it comes to offering class A services. But, again, maybe I am biased! Let’s move on to what investments they offer.

Gatwick – Apart Hotel – This is a serviced apartment/Hotel investment with a minimum investment of 72,500 GBP. The figure states “from”, so I assume you can throw a bit more in for good measure. The promised outcomes:
- 12 Months rental paid in advance
- Rental protected by Insurance
- 5 Years Rental 8%
- 2% profit paid on exchange deposit during refurbishment
- 7 days free stay subject to 1 months notice
- Buy back at 110% after 10 years
- 40% Finance on units over £140,000
- Luxury furniture pack included with every purchase
- Completion date: March 2019
This is a fixed term investment of 10 years and it has not been built yet (check the completion date). To me, an investment like this would ring alarm bells, as you are purchasing property that has yet to be completed. All sorts of hiccups could occur before the investment was up and running. An illiquid, high-risk investment, only for those who can afford a potential loss on the funds used.

Office investment in the Kingdon of Fife – Another illiquid and fixed-term investment, although slightly lower in price than the Gatwick offer.
- Structured exit plan at 10 and 15 years
This means your money is trapped for an awfully long time. If the market sways, you could be set for a loss and often with fixed-term structured investments there are fees and charges. Investments like this can, if they go wrong, result in you, the investor, falling into negative equity.

Property investments like these, ring similar to that of the Dolphin Trust´s German property investments – high-risk, unregulated, non-standard “assets”. An awful lot of pension money has been loaned to this company – many DB pensions earned by British Steelworkers were invested here. Introducers saw commissions of up to 25% and in the case of British Steelworkers, Celtic Wealth – who are now in liquidation- were the introducers. The victims do not know where their pension funds are or if they will get any return. Dolphin Trust are still selling their assets, despite the lack of funds being released to mature investors.

EIS marijuana opportunity – Grow Biotec, there is a lot of press going around at the moment into the medical uses of marijuana and possibilities of a change in legislation in the UK. In many states of America, the use of marijuana for medical use has been decriminalized. As an avid supporter of natural remedies and healing through nature, the use of CBD extracted from the marijuana plant interests me immensely, the idea of investing in this potentially lifesaving product does have a certain draw.

But, there is always a but! Since working for Pension Life, any investment opportunity that quotes the word ´bio´ gives me the heebie-jeebies. We have only to look back and remember the Elysian Bio Fuels liberation scam promoted by James Hay. The victims of this scam have been left penniless AND with huge tax bills from HMRC.

Another ´bio´investment disaster was Sustainable Agroenergy (SAE) Plc, investors were told their investments were in biofuel products, that land was owned in Cambodia and planted with Jatropha trees – a tree with highly toxic fruit that could be used to produce biofuel. Unfortunately, the Jatropa trees were not as fruitful as originally thought. The perpetrators, were thankfully convicted of fraud and bribery offenses.

The reasons I doubt this as a good investment are the vague promises and the over promises.

´It is a private offer raising £5 million to develop one of the world’s most valuable portfolios of cannabis-IP assets by 2022.´

What will be the outcome should this £5 million not be made? A possibility of loss of all or part of your investment.

´We are seeking to develop one of the world’s most valuable portfolios of cannabis-IP assets by 2022.´

Meaning this is a fixed-term investment, with potentially no return for at least 4 years, if not longer, AND only if successful.
- Projected high returns: Target return of £50 per £1 invested (not guaranteed)
- EIS Tax relief: up to 50% income tax and capital gains tax relief. Remember tax rules can change and benefits depend on circumstances.
If it sounds too good to be true – it probably is. Plus this figure is not guaranteed and seems to me like it was just plucked out of the sky, nice and high, to lure investors in.

Airport Parking Investments,

These investments are what we in the industry call illiquid. Once your money is in, then it´s pretty hard to get it out quick AND unless the venture does well there will be no return. With regards to pension investments, these are the very worst, toxic assets to invest in.

Unfortunately, they are often the assets which pay handsome investment introduction commissions to the salesperson, and this is why serial scammers, like Ward, love them. They go in with the ´eco-bio´ sale pitch or the glamorous property ownership – withholding the high-risk, fixed-term rules surrounding the investment.

A pension fund is a retail investment that should be placed in a low to medium-risk asset. Fixed terms, high-risk and illiquid investments should be avoided at all costs.

The types of investments offered by Katar Investments are high-risk and illiquid, if you have a spare five grand that you can afford to lose, then go for it: have a cheeky punt on Bio Grow. You may be pleasantly surprised and get the target return of £50 per £1 invested (just remember to duck smartly when those pink things with curly tails fly a bit too close!). However, if your money is dear to you and you cannot afford to lose it, please stay away from shiny pink and green investments like this.

When it comes to your precious pension fund it is always best to air on the side of caution and go for the safe bet. It might not pay the highest interest, however, slow and steady wins the race. Meaning you will be able to enjoy your hard earned pennies in your retirement – stress free.

John Rodgers wishes he had said no to the offers of Continental Wealth Management.
September 11, 2018
Square Mile International Financial Services – qualified and registered?
This week, in my mission to disclose advisory firms´ claims to qualifications (or in fact the lack of them), I am looking into Square Mile International Financial Services – qualified and registered?

What the Square Mile website page says:

Despite referring to their Prague headquarters in a lovely paragraph:

“Square Mile has a dedicated customer care and administrative team based in our headquarters in the beautiful historic Old Town quarter of Prague, in the Czech Republic. Aside from picturesque surroundings, being in the very heart of Europe allows our customer services team to easily service our clients all over Europe, as well as placing us within 90 mins of London’s own ‘Square Mile’ where we have our UK team, and extensive links and partnerships with some of the worlds top financial institutions.”

…their website fails to list their team members, so over to Linkedin to see who the lucky people are.

But, firstly, a bit of background information about Square Mile, just in case you haven´t heard of them.

Square Mile International in Prague is run by David Vilka, a name that has been the star of several other Pension Life blogs. Vilka is linked to the Blackmore Global Investment Fund scam which saw victims’ pensions invested in dodgy AND illegal (for UK residents) UCIS funds. It should also be noted that David Vilka of Square Mile International Financial – was not regulated to give investment advice, but did so anyway.

Vilka transferred at least 65 pensions into a Hong Kong QROPS and then invested them into the Blackmore Global fund, courtesy of Phillip Nunn and Patrick McCreesh of Aspinal Chase. Blackmore Global is an unregulated fund, which has never had an independent audit. Investors fear their pension funds may well be lost, as there is no evidence as to where the money has gone. David Vilka has showed no shame for what he did, and has made no attempt to recover any remainder of his victims´pensions.

So, Square Mile International Financial Services – qualified and registered?

IFAs and their clients are invited to add to this blog, correct it or improve it. Here’s a link to the three registers if you want to double check:

http://www.cii.co.uk/web/app/membersearch/MemberSearch.aspx

https://www.cisi.org/cisiweb2/cisi-website/join-us/cisi-member-directory

https://www.libf.ac.uk/members-and-alumni/sps-and-cpd-register – Claim to a DipFA

Please note that this data is correct as of 29/08/2018.

Staff list for Square Mile International Prague office:
1. David Vilka – Managing Director – DOES NOT APPEAR ON ANY REGISTER – but we knew that already!
2. Alan West – Head of Client Services – DOES NOT APPEAR ON ANY REGISTER
Well, the Square Mile International Prague offices´ dedicated customer care and administrative team´ doesn´t inspire much confidence. Only two staff members are listed – one of them is known to be linked to pension scams – and neither has any financial qualifications!

Square Mile International Financial Services – qualified and registered? 0%

On a final note, this is the statement made on the Square Mile retirement solutions section of their webpage:

´PENSION SCAMS & LIBERATION: BE AWARE– No properly authorised scheme should be able to offer benefits to you before age 55 – any scheme offering this facility or any adviser claiming to be able to do this is almost certainly involved in pension liberation. A bonafide scheme, whether UK or International, will be listed on the HMRC website. There is much sensationalism written about pension scams. The truth is that there are many more very good investments opportunities and very few scams in comparison. Good investments don’t sell newspapers so inevitably the few rotten apples make the headlines. Simple steps such as: checking your adviser is regulated in an EEA jurisdiction and is correctly passported into your jurisdiction, checking the levels of remuneration the adviser will receive, checking the lock-in clauses with the investment scheme and any penalties, and confirming directly with any professional advisers, auditors, or lawyers named on the investment of their involvement. Despite what is written an alternative or esoteric investment as part of a portfolio can reap very good rewards if proper research is undertaken.´

Interestingly, David Vilka (pictured here with John Ferguson, who was also involved in the Blackmore Global scam) is not regulated to give financial advice on pensions or investments, but did so anyway. The Blackmore Global scam victims are locked into a toxic investment fund, that should not have been sold to them as UK residents. Furthermore, they face penalties if they wish to withdraw the little they have left in the fund, as they are locked in for 10 years. No move has been made by any of the perpetrators to help these victims.

Square Mile International should be placed at arm´s length by anyone who wants a secure future for their pension fund.
August 29, 2018
TailorMade International – gets a tailor-made fine reduction

Victims of the unregulated property scheme Harlequin, may be disheartened to know that Alistair Burns has escaped with a reduced fine for his role as chief executive of TailorMade International.

The FCA originally proposed Burns should face a fine of £233,600, along with a ban back in December 2016. However, the Upper Tribunal, whilst upholding the ban, has chosen to lower this to £60,000.

FCA executive director of enforcement and market oversight Mark Steward said: “Mr Burns failed to ensure that TailorMade International managed its conflicts of interest, benefiting financially from his role as shareholder and director at an unregulated introducer alongside his regulated role, to the detriment of his customers.”

Burns co-owned and co-directed the unregulated introducer company operating as ‘TailorMade’. For three years TailorMade provided advice to 1,661 customers transferring them into the unregulated property scheme Harlequin.

Burns received “significant amounts of commission” from Harlequin for the customers that were advised into the scheme through TailorMade. It was found that pension holders were offered totally unsuitable advice to enter into the SIPPS scheme, which lined Burns´ pockets but saw victims´ funds invested into risky overseas property.

The FCA stated “Our action sends a strong message that failing to manage conflicts of interest fairly and disclose them clearly is completely unacceptable.“

To date, compensation totaling more than £55.6m has been paid by the Financial Services Compensation Scheme (FSCS) in relation to claims upheld against TailorMade. This does not cover all the losses suffered by investors, which the FSCS assesses at more than £106.5m.”

This is a welcome prosecution in the battle against unregulated pension scammers. However, this does beg the question as to why the Upper Tribunal reduced Burns´fine. It does seem that Burns has got off lightly, given the compensation being paid out by the FSCS and the enormity of his crime.

Here in the Pension Life office, we believe scammers should be locked up for their crimes and the keys thrown away. A light sentence seems to spell out to scammers that they may get caught but will get off with a slap on the wrist – leaving these criminals free to scam again and again.

August 14, 2018
STM Group Plc – announces trading update

STM Group has announced the following trading updates for the first half of this year.

STM state that the first half of the year has progressed in line with management´s expectations. They refer to this with particular emphasis on their SIPPS program. For those readers who are unfamiliar with STM’s past investment scams, here is a little bit of background information:

STM Fidecs scammed hundreds of victims out of their pensions. STM Fidecs took business from unlicensed scammer XXXX XXXX of Global Partners Limited (only had an insurance license with Marcus Groombridge’s firm Joseph Oliver) and then invested 100% of the victims’ funds into an illegal UCIS fund – run by XXXX XXXX. This fund was called the Trafalgar Multi-Asset Fund.

One of the updates is that STM Group have appointed a Group Internal Auditor. I wonder if this is going to make their trading any more honest. One can only hope that their future auditing will be considerably better than their past.

STM Group accepted hundreds of transfers from UK residents in whose interests it was NOT to swap their British pension arrangements for an expensive QROPS. STM Group then allowed these victims to have funds invested in XXXX XXXX’s own fund – Trafalgar Multi-Asset (a UCIS which is illegal to promote to UK residents). There didn´t seem to be much in-house auditing going on then.

What makes this more hard to swallow is that:

Neither STM Fidecs nor the Gibraltar FSC has said a word about redress for the Trafalgar Multi-Asset Fund victims.

Instead, in March of this year, STM Group’s Alan Kentish, was delighted to deliver reports of record profits for 2017. This was after he was arrested in October 2017. Unfortunately (for the Trafalgar Multi-Asset Fund victims), he was released without charge and was fully backed by the STM Group board.

We are still wondering what the hell the Gibraltar FSC is going to do about this fraud. Leaving STM Group to commit further fraud does not seem to be a viable option.

August 13, 2018
Generali, an utter disgrace, merging with Utmost Wealth

Utmost Wealth and Generali PanEurope are set to merge with the help of Life Company Consolidation Group (LCCG). The plan is to re-brand as Utmost PanEurope. I wonder if this merger will do its utmost to ensure they manage and mitigate their future victims´ – sorry clients´ – risks, and protect their investments – as they certainly didn´t do so for their victims who suffered at the hands of CWM.

GPE chief executive Paul Gillett added: “We are proud of our performance over the last 20 years and have grown into one of the largest international companies in Ireland, with assets under management of over €10bn.

What a disgrace that Gillett can announce that he is “proud” of their performance over the last 20 years – proud of the misery and stress caused to the victims of the CWM pension scam? Proud of the fact that Generali have refused to take ANY responsibility for their victims´ losses.

Gillett goes on to say:

“The sale of the business to LCCG marks a very important step in our future development. Together, we represent one of the leading European providers of cross border wealth and corporate risk solutions with the potential to grow further across both current and new markets.”

With the responsibility of Generali being passed over to LCCG, here at Pension Life, we wonder if LCCG will be taking responsibility for Generali´s past victims as well. Will LCCG apply their corporate risk solutions to those who have already been put at risk? Generali on their own certainly didn´t apply a high standard of risk solutions when they placed CWM victims´ funds into high-risk, toxic, professional-investor-only structured notes.

Lets hope Utmost Wealth will do their utmost to sort out this utter disgrace caused by Generali´s negligence.

August 6, 2018
TV licence enforcement versus unlicensed advisers

Pension Life campaigns for awareness of corrupt financial advisers and advisory firms operating without the correct licences. Outing theses advisers and firms, in the hope that the authorities will do something about the state of it all, is one way of bringing these scammers to justice and warning the public. A recent article in the Irish News about an unpaid TV licence caught my eye. I feel I must highlight the injustice of the fact that a disabled woman was prosecuted for not having a TV licence while dozens of serial pension scammers get away with scamming their victims out of their hard-earned pension funds daily without ever getting punished.

Grandmother Anne Smith (left) from Poleglass with her friend and neighbour Marie Flynn. Picture by Mal McCann

IN reports –

Ill grandmother sent to jail for not paying TV licence fines

As we reside in Spain, we are fortunate enough not to have to pay for this licence, but readers who live in the UK and Ireland (and I believe Germany) will be well aware of the fees one MUST pay if they have a television in their home. For those that don’t live in a jurisdiction that requires a TV licence, here´s what Wikipedia states about an Irish TV licence:

In Ireland, a television licence is required for any address at which there is a television set. Since 2016, the annual licence fee is €160. Revenue is collected by An Post, the Irish postal service. The bulk of the fee is used to fund Raidió Teilifís Éireann (RTÉ), the state broadcaster.

Television licensing in the Republic of Ireland – Wikipedia

Irish police found time to visit Anne Smith (59 – who suffers from the debilitating lung condition COPD, as well as osteoporosis and is waiting for a double hip replacement, several times to issue a warrant for her arrest and later to take her into custody. Anne’s TV licence had been left unpaid for quite some time due to her poor health.

Non payment of a TV licence (when a television set is used within a house) is a criminal offence, and non-payment results in a police warrant being issued. Furthermore, men with vans are employed to visit all households on their database that do not pay their TV licence and basically harass them into proving they do not have a TV. It is just assumed that anyone without a TV licence is guilty, and so a campaign of harassment begins by letters and visits to intimidate people into buying a licence.

The Journal.ie reported earlier this year that there had been a rise in the purchase of TV licences in Ireland by * 8,000:

‘In a bid to clamp down on those who do not have a licence, the minister rolled out a raft of measures, including a communications campaign, as well issuing a new tender for a new TV licence agent tasked with carrying out TV licence inspections.

A spokesperson for the department said their research shows that the public campaign gave a definite push in the number of TV licences purchased. One tagline used in the ads where it highlights that buying a TV licence “is the law” resulted in a definite spike in take-up rates, they added.’

Can you imagine if this much effort was put into ensuring that financial advisers were fully licensed and qualified? And if the police chased after all the pension scammers? In my opinion, it is far more important to ensure that the financial services industry is operating in a fully legal and licensed manner. However, it is not so and the priority is obviously TV licence defaulters rather than pension scammers.

Serial pension scammers manage to create scam after scam after scam, posing as licensed advisers – convincing victims that they work for regulated firms – these scammers con millions out of innocent, hard-working victims every year!

And the problem is that the authorities, the FCA, HMRC and even the police just sit idly by and let the unlicensed advisers scam time and time AND TIME AGAIN!

August 6, 2018
10 essential questions for offshore advisers
Pension Life is working towards making offshore financial advisers more transparent. We have created a list of 10 essential questions for offshore advisers and their preferred answers. For too long precious pension funds been left in the hands of unqualified, unregistered advisers and unregulated financial advisory firms.

Offshore advisers need to follow a strict set of rules just as UK-based ones do. Being offshore doesn’t mean you can invent your own set of rules for financial advice. However, it seems more and more people are being poorly and illegally advised in the transfer of their pension funds.

Offshore advisers often use unnecessary insurance bonds to skim extra commissions without disclosing these commissions prior to the pension transfer. It is clear more information needs to be available to the clients of these ill-advised pension transfers. With greater transparency, pension holders would be able to make better informed decisions about advisers to whom they entrust their transfers. Also, they will have better knowledge of how to spot a pension scammer.

With so many advisory firms out there, it is hard to know when your inner beacon should be flashing a bright red warning light telling you to just walk away. Pension Life has put together this list of 10 essential questions to ask your offshore adviser.

If their answer points to the red warning light walk away – FAST!
1. What are your qualifications – are you qualified to give advice on pension transfers? and what CPD have you done recently? Advisers giving advice on pensions must be qualified to a certain level. Click on the link above to read what these requirements are. Simply having a qualification isn´t enough. Advisers must be qualified to the correct level and they must have made an effort to complete the relevant continued professional development (CPD). In addition they must pay their membership fees to the institute with which they qualified.
2. Is the company you work for regulated for insurance and investments? If the answer to this question is NO – walk away – DO NOT take any financial advice from them. All companies who give financial advice on pension MUST be licenced to do this by being regulated for both. An insurance licence is not sufficient.
3. Compliance. Is there a robust compliance department staffed by qualified personnel? If the answer is no walk away.
4. Do you use insurance bonds? If the answer to this is YES – walk away. If your pension goes into a SIPPS or a QROPS, it does not need two wrappers and therefore an insurance bond is just another way of the adviser making more money out of your fund though commissions – hence draining the value of your pension fund.
5. Do you use structured notes, UCIS funds or in-house funds? If the answer to this is YES – walk away. Structured notes are for ´professional investors only´; they are high-risk and not suitable for a pension which is classed as a retail investment that should be placed into a low-medium risk investment.
6. Do you use a reputable firm for DB transfers? If the answer is NO walk away.
7. Do you carry out a detailed fact-find to establish a client´s risk profile? If the answer is NO walk away.
8. Do you disclose all the fees and commissions at the start? Often we hear of pension scam victims who have been told by their adviser that their pension review is free and no other fees or commissions are mentioned during the transfer process. Once that transfer has completed the clients look at the pension fund value and find that a large chunk has been taken to cover various ´costs´. Every pension fund transfer will have some reasonable charges. However, many scammers apply extra charges and fees that are far above what is reasonable and proportionate. These are often undisclosed. Make sure that your adviser is able to provide – in writing – all of the costs. Once you have these details, you will be able to make an informed decision as to whether you are happy for the transfer to proceed.
9. Do your clients get regular updates on the progress of their funds and have full access to check this for themselves? You should be able to check the progress of your pension whenever you want. However, a good adviser should provide you with a quarterly update. This should include any charges or fees incurred and any profit/loss made. A yearly review should also be carried out to ensure your pension fund is steadily growing with the right investments.
10. How do you deal with customer complaints?
If your offshore adviser refuses to answer the questions or skims around an answer – just walk away. Anyone offering pension advice should adhere to certain criteria and he must be ready and willing to provide you with all the information you ask for. He should be fully transparent about all the details involved with your pension transfer.

Once you have ensured that your adviser is fully qualified and regulated, and operates in a manner that is within your pension fund´s best interests, we would advise you to check out our other blog:

10 essential questions to ask an IFA

This blog covers pension options in a bit more detail.
July 25, 2018
SEB LIFE (OR DEATH) – WILL THE CENTRAL BANK OF IRELAND BRING THEM TO JUSTICE?

One of the hundreds of Continental Wealth Management victims stuck in a useless and expensive SEB Life International bond, and ruined by crippling investment losses, has made a detailed complaint to SEB.

Some idiot from SEB called Orla Golden has replied – and the response is astonishing. Below are my answers to this ridiculous rebuttal. The complaint will now be referred to the Central Bank of Ireland – asking that SEB Life should be suspended. I will also copy this in to the Financial Services Ombudsman.

Let us see whether the regulator and ombudsman in Ireland will turn out to be as useless as the regulator in Gibraltar, or will actually have some teeth. If the authorities in Ireland are any good, hopefully they will hold Conor McCarthy and Peder Nateus fully responsible for facilitating this deplorable scam.

LETTER FROM ORLA GOLDEN TO THE CWM/SEB VICTIM IN RESPONSE TO HIS COMPLAINT (WITH MY COMMENTS IN BOLD):

We are writing to you in response to your recently submitted complaint in respect of your insurance policy with SEB Life International Assurance Company DAC that you placed through your appointed independent financial advisor, Inter-Alliance WorldNet Insurance Agents and Advisors Ltd.

The victims did not place any orders or instructions through Inter-Alliance. SEB is being not only disingenuous but dishonest here. The advisor in question was Continental Wealth Trust SL, trading as Continental Wealth Management SL (CWM) in Alicante Province, Spain. CWM was a firm full of unqualified so-called “advisers” with a track record of scamming, cold-calling and flogging dodgy products to unsuspecting victims. The victims appointed CWM as their advisers, and all the dealing instructions for the toxic structured notes came from CWM and not Inter-Alliance.

SEB Life is a designated activity company which is registered under company number 218391 with the Irish Companies Registration Office and is authorised as a life insurance undertaking by the Central Bank of Ireland under number C771.

So, let’s see just how good a regulator the Central Bank of Ireland really is. We must all hope it is not as hopeless, limp and corrupt as some of the other regulators.

SEB Life is permitted to distribute life insurance policies in Europe (EU) by way of a freedom of services passport issued by the Central Bank of Ireland under the Solvency II Directive 2009/138/EC as adopted into Irish law by the European Communities (Insurance and Reinsurance) Regulations 2015 (the “Solvency II Irish Regulations”). That may be true, but these weren’t true life insurance policies: they were bogus policies designed to act as “wrappers” for dodgy, rubbish investments and to facilitate financial crime in multiple European jurisdictions – most notably Spain where such insurance/investment products have been outlawed by the Spanish Supreme Court.

In January 2015, Inter-Alliance novated its business to Trafalgar International GmbH who became your financial advisor.

Not true. Trafalgar International did not become the financial adviser. Few, if any, of the victims had ever heard of Trafalgar until CWM collapsed in September 2017.

Trafalgar is an independent financial advisor located in Germany

No it isn’t – it is located in Cyprus. Orla Golden clearly has never done Geography.

and is authorised and entered into the register of insurance intermediaries maintained by the Chamber of Industry and Commerce (DIHK). Trafalgar is authorised to mediate insurance policies in various EU territories including UK, Spain, Malta and France. Yes, Trafalgar was. But CWM wasn’t.

SEB Life has terms of business with Trafalgar, and previously had terms of business with Inter-Alliance which was authorised by the Insurance Companies Control Service in Cyprus to mediate insurance policies in the EU; before it transferred to Trafalgar. Continental Wealth Management (CWM) was a sub agent of Inter-Alliance

Really? Sub agents are illegal in Spain

and then continued to be a sub-agent of Trafalgar.

No it did not. SEB is lying. CWM was never a sub agent of Trafalgar

CWM is the responsibility of Trafalgar and SEB Life does not have terms of business with them.

So why did SEB accept dealing instructions from CWM if they had no terms of business with the firm?

SEB Life regularly reviews the authorisation of independent financial advisors with whom they have terms of business,

SEB is failing to get its story straight. CWM was not authorised – ever, for anything. SEB may have had terms of business with both Inter-Alliance and Trafalgar, but CWM was never an authorised agent of either firm.

however, it is the independent advisor’s responsibility to comply with their own regulatory obligations for authorisation

And nothing to do with SEB? So, why did SEB accept dealing instructions from CWM?

and their regulatory authorities have oversight responsibilities.

Like the Central Bank of Ireland has oversight responsibilities over SEB? Let’s see how seriously it takes those responsibilities.

Trafalgar, as the appointed independent financial advisor is your agent.

No it isn’t, and wasn’t. Trafalgar was not an IFA firm, it was a network.

Any policy related intermediary commission was paid directly to Trafalgar (formerly Inter-Alliance), with whom SEB Life has terms of business.

So why was SEB paying intermediary commission at all to CWM which was not regulated at all for anything – not pet insurance, not bicycle insurance, nothing. It matters not to whom the commission was paid, the products were sold by an unregulated firm (CWM) and SEB should never have accepted the business – let alone ever paid commission (irrespective of to whom this commission was paid).

As your agent, Trafalgar must handle your complaint in accordance with their agent and regulatory responsibilities.

Trafalgar was never the victims’ agent.

In addition, the pre-sales advising process occurs between you as the policyholder and your appointed agent.

Trafalgar was never the appointed agent. Trafalgar did not provide the advice; Trafalgar did not place the dealing instructions; Trafalgar did not meet the clients.

This process identifies the customer’s needs, based on the information provided by the policyholder(s)

How would SEB know? Did they ever check the fact finds or make any attempt to ascertain the victims’ attitude to risk? No, of course they didn’t

and recommends the insurance product which best suits the customer’s objectives and needs.

This is a ludicrous comment to make. Not one single victim needed a bogus life assurance product – they were all, 100% mis-sold purely for the fat commissions paid by SEB.

SEB Life is not party to this pre-sales advising process and the discussions that occur between a policyholder and their appointed independent financial adviser as to their risk profile and the assets that will fulfill the investment needs and objectives.

Correct. But SEB ought to have noticed, over a period of several consecutive years, the inexorable losses from the toxic structured notes which repeatedly failed – and the dealing instructions for which (submitted by CWM and accepted by SEB) bore forged client signatures. SEB may not have been party to the pre-scamming advice con, but they should certainly have taken action when the results of this clear fraud started to become obvious.

SEB Life does not offer any investment advice, and this is clearly stated in the declaration section of the application form that we ensure is signed by the customer.

And damn good job too. Most victims would probably trust a convicted thief rather than SEB. The declaration section of the application form may make it clear that SEB does not offer investment advice, but the annual statements also make it clear that SEB can do maths. And that basic maths demonstrated that hundreds of policyholders’ funds were being routinely destroyed.

Our literature states that the amounts invested in the Units of the Fund in the contract are not guaranteed but are subject to fluctuations in value depending, in particular, on the performance of financial markets.

There is fluctuation, and then there is total destruction. Fluctuation goes up and down. Destruction just goes down. Did not a single half-wit at SEB notice the difference over a period of seven years?

The return on investment is not in SEB Life’s control and past performance is not an indicator of the future performance of any asset.

So, if Bloodstone Building in Dublin caught fire, would the blind, deaf and dumb idiots at SEB just sit there, shrug their shoulders and say “a fire in the building is not within our control – we aren’t firefighters. And we won’t even bother using the fire extinguishers or calling the fire brigade. We’ll just sit here and watch the building get destroyed and burn to death ourselves?”

SEB also request that a one-page “Statement of Understanding” is signed by a policyholder where an investment request is received in relation to a non-standard asset.

Really? Who told Orla Golden that? The Statement of Understanding Fairy? This simply is not true.

This is to confirm that the policyholder has read and understood the potential financial, market and liquidity risks associated with the asset before proceeding.

None of the victims understood the assets which SEB was permitting the scammers at CWM to churn; none of the victims realised or understood what structured notes; none of the victims knew that structured notes were for professional investors only and not for retail investors; none of the victims knew that they stood to lose part or all of their investment (as most did); none of the victims realised that SEB would just sit there and let the repeated losses keep happening as the unlicensed, unqualified scammers at CWM kept scamming away for seven years.

Policyholders are able to request that their policy be linked to assets that are within the company’s permissible asset list. The investments have been executed by SEB Life on the basis of written instructions submitted to SEB Life that were signed by you as the policyholder

No they weren’t – the signatures were forged

or your appointed investment advisor.

Meaning the unqualified, unlicensed scammers at CWM who did not have an investment license – let alone an insurance license.

SEB Life relief upon and implemented those instructions in good faith and in accordance with the terms and conditions of the policy.

There was nothing good about SEB’s “faith”. This particular victim – whose complaint has not been upheld by SEB – suffered the following losses between 2009 and 2015:

12 toxic, professional-investor-only structured notes from Nomura, RBC, Commerzbank, Leonteq and BNP Paribas:

Lost a total of 271,539 EUR

Investment in the Quadris Teak UCIS fund:

Lost 100,000 GBP

TOTAL LOSS IN SIX YEARS: 371,539 EUR

Didn’t SEB notice? Didn’t SEB care? Didn’t SEB do anything for seven years?

The answer, of course, is a resounding no. The lazy, callous, greedy, negligent did nothing except sit there and watch this victim’s life savings be destroyed by the scammers.

With regard to your allegations of regulatory breaches and fraud committed on your policy, SEB Life is unable to comment on such allegations and these must be discussed with your appointed financial advisor Trafalgar directly.

I have no doubt that SEB’s lawyers will have advised them to keep their mouths shut on this one and to try to deflect the blame onto Trafalgar. This is one of the things I hate about lawyers – even when they know their dirty clients are guilty they will still defend them to the hilt. As long as they keep billing, the lawyers won’t care how many lives their negligent and culpable clients ruin.

In these circumstances, you may wish to seek independent financial advice

I wonder what sort of “adviser” SEB have in mind? Scammers like CWM?

and/or legal advice regarding your engagements with your appointed financial adviser.

And I wonder what sort of law firm SEB would recommend? A dodgy firm like SEB’s own lawyers who are happy to make money out of defending the indefensible?

July 12, 2018
10 essential questions to ask an IFA
Most victims of pension and investment scams bitterly regret not having asked more questions with regards to their financial planning. The problem is that they wouldn’t have known what questions to ask, and they probably wouldn’t have understood the answers even if they had. Pension Life offer you 10 essential questions to ask an IFA so you can ensure you are not the next victim.

All existing victims wish they had asked questions, obtained assurances, checked advisers’ qualifications and regulation. But, of course, it is now too late for the victims who have lost part or all of their life savings.

These victims all agree that it is important to prevent future victims. This is why we have come up with these 10 essential questions to ask an IFA, when considering financial planning and the transfer of your pension:

1 – How is the adviser and/or his firm licensed to provide advice to you in the jurisdiction where you – the client – live? Don’t be fobbed off with the answer that the adviser has an insurance license – that isn’t enough. The adviser needs an investment license. Also, don’t be fobbed off if the adviser says the firm is licensed in another jurisdiction – it needs to be licensed for where you, the client, live.

2 – If you are transferring a DB (defined benefit) or FS (final salary) scheme, you must get FCA regulated, qualified, independent advice on the merits of the transfer. Remember, the advice might be that you are better off leaving your pension where it is.

3 – Make sure the transfer recommendation (from a DB or FS scheme) is correct. Get a second opinion. You only get to do this once – and if the wrong road is chosen, it is very difficult (if not impossible) to correct it.

Check that the transfer advice report makes it clear that you, the client, are being advised on the transfer and that the advice is about what you should do – not what you could do.

4 – Don’t let the adviser put you into an insurance bond. Examples of these are Old Mutual International, SEB, Generali, Friends Provident, RL360, Hansard, Investors Trust. An insurance bond is a wrapper. A QROPS is a wrapper. You don’t need two wrappers. That’s like Superman wearing two pairs of pants over his tights.

The only purpose an insurance bond serves is to pay the IFA 8% commission. Plus, the insurance bond will tie you in for between five and ten years, and you neither need nor want to do that with a pension.

Insurance companies will take business from any old unlicensed, unqualified scammers. They don’t care. The quarterly charges are called “management charges” but that is very misleading because they don’t do any actual managing. Once the value of your fund starts to diminish because of the high charges and the toxic, illiquid, high-risk investments, the insurance company will keep taking its fees – sometimes until the whole fund is extinguished and worthless.

5 – What qualifications does the adviser have?

You wouldn’t take medical advice from an unqualified person posing as a doctor; legal advice from an unqualified person posing as a solicitor or accountancy advice from a person posing as an accountant. So why take financial adviser from someone with no qualifications?

It is a sad fact that in many jurisdictions, so-called advisers spring up with no qualifications and even no Financial Panning experience. Sometimes, they had been selling mortgages, second-hand cars or ice cream the previous week to selling pensions.

Pension Life covered the question of qualifications in a recent blog by Kim:

Using advice from Chartered Global about financial qualifications, you can discover that:
Level 3 Financial Adviser Qualifications

The most basic or entrance tier is the certificate level which is classed as a level 3 qualification within the UK framework, equivalent to A levels. Level 3 qualifications include:

CertCII: Certificate in Financial Planning issued by the Chartered Insurance Institute

CertPFS: Certificate in Financial Planning issued by the Personal Finance Society

CeFA: Certificate in Financial Advice issued by the Institute of Financial Services

Cert IM: Certificate in Investment Management issued by the Chartered Institute for Securities & Investment

Level 3 qualifications are sometimes held by adviser office staff and certain mortgage or protection advisers in a bank for example. These certificates require passing a selection of exams over 1-2 years and holders will have a general grounding in financial planning and financial services.
Level 4 Financial Adviser Qualifications

However, since 2012 financial advisers in the UK have been required to hold a minimum of a level 4 qualification to be able to continue to provide independent financial planning advice. The minimum required qualification to provide independent financial planning advice in the UK is now the diploma level, a level 4 professional qualification.

Look for the following letters or designations to identify a level 4 adviser:

DipCII: Diploma in Financial Planning issued by the CII

DipPFS: Diploma in Financial Planning issued by the PFS

DipFA: Diploma in Financial Advice issued by the IFS

IAD: Investment Advice Diploma issued by the Chartered Institute for Securities & Investment

Building on the certificate knowledge, level 4 advisers will offer a well-rounded understanding of financial planning and products, from general investments, structured products, to basic pension, protection, tax and savings advice.
Level 6 Financial Adviser Qualifications

A full two levels higher are the profession’s top tier of financial advisers; holders of level 6 qualifications equivalent to a bachelor honours degree. Completing a comprehensive suite of professional exams over many years, these top-flight advisers will be designated through one of the following:

APFS: Advanced Diploma in Financial Planning issued by the CII

CFPCM: Certified Financial Planner

Adv DipFA: Advanced Diploma in Financial Advice issued by the IFS

Advisers at this level will have advanced expertise in the main areas of general financial planning.
6 – Is the adviser planning on investing your life savings in professional-investor-only structured notes?

Structured notes are complex, risky, expensive derivatives which are only suitable for sophisticated investors who understand them. Few advisers/brokers understand them – but love them because of the very high commissions they pay. They also love them because once they have purchased them, there is no management to do – only stand back and watch them plummet in value.

Examples of structured note providers are Leonteq (currently being sued by Old Mutual International for fraud), Commerzbank, Royal Bank of Canada and Nomura. There are, of course, many more out there.

However, if your adviser/broker says he wants to invest part of your life savings in structured notes – ignore any old baloney about “capital protection” – and RUN LIKE HELL!

7 – Why are the firm’s own in-house funds used? An adviser can’t be independent if he is recommending his own firm’s own funds.

The way that financial advice is supposed to work is the adviser does a thorough, detailed fact find to analyse the client’s individual circumstances and risk profile. Then the adviser can go out into the market and find the most suitable and cost-effective investment products.

There is a huge choice and many good low-cost investment platforms. But some firms set up their “own” funds – which are merely somebody else’s fund which has been “white labelled” as the firm’s fund. This means there are two layers of charges.

An adviser cannot be independent if he is advising that his own fund should be the investment choice. This recommendation is usually made because of the extra commission which can be earned from an in-house fund, rather than because it is in the client’s best interests.

8 – Are UCIS funds going to be used?

Many a poor victim has lived to regret his trust and faith in a silver-tongued adviser’s ability to manage his investments. UCIS funds (Unregulated, collective investment schemes) are inevitably high risk and can have catastrophic results.

Such funds include EEA Life Settlements, LM, Harlequin, Brandeaux Student Accommodation, Premier New Earth Recycling, Dolphin Trust and many more which are sometimes no more than Ponzi schemes. Underlying assets include forestry, “clean” energy, eucalyptus and truffle-tree plantations, chia seeds, fine art, wines and speculative property.

Life savings have been decimated by failed UCIS funds – make sure your adviser/broker understands you don’t want your money to be invested in any of these toxic, high-risk, unregulated funds. You could well be promised high returns, but you have to remember that with high returns comes high risk.

9 – What is the full extent of the charges/fees/commissions on the entire transaction?

So many advisers conceal the full extent of ALL the fees and commissions. Victims only find out about them long after it is way too late. The “drag” on a fund can be catastrophic, even without investment losses.

If you are being advised to go into a QROPS, there will be the set-up and yearly ongoing charge (as well as exit charge); the adviser will charge between 2% and 3% set-up and then 1% (at least) annually; if UCIS funds are used, these can pay up to 25% commission (or even more sometimes); if structured notes are used, these can pay between 6% (for the regular ones) and 8% (for the fraudulent Leonteq ones). Then there is the 8% on the insurance bond. Then there is anything else the adviser can slip in without you noticing.

Victims of poor advice often only notice the dragging effect of all these charges on their fund after a year or so – or more. And by then it is too late, and the fund can never recover.

10 – Why were you graded as a “7” balanced investor – or even higher as an “adventurous” investor (when, clearly, you should have been graded as a low-risk investor)?

Here is the basic problem – the higher an investor’s risk profile is, the riskier the investments can be. This, of course, means that the riskier the investments are, the more commission the adviser can make.

After suffering crippling losses, many victims (retrospectively) look at their statements and documentation and find that they were graded as medium or high risk without their knowledge or consent. The adviser’s excuse is that the client valued growth above all else and that this was reflected in the risk assessment questionnaire.

Often, clients start off as low to medium risk, and then the adviser surreptitiously increases the risk profile. This can have catastrophic consequences for investors – and is what ALL of the known victims report as being the cause of their crippling losses.

The bottom line is that the public needs to be educated and warned about the bad practices offshore. Only by spreading the word about what happened to existing victims, will future victims be prevented.

People who have lost part – or all – of their pensions and life savings, are devastated and destroyed. They are facing potential poverty in retirement. Some will lose their homes, their health and their relationships. Some will take their own lives.
June 25, 2018
High Court Winds up Fast Pensions
Yesterday, Wednesday 30th May, in the High Court, the petition to wind up Fast Pensions and the associated companies and occupational pension schemes, was heard. The order was made that the companies and schemes should be wound up.

I would like to thank Michael Gibbon, the son of one of the Fast Pensions members, for attending the hearing and representing Pension Life and the 400 victims. Michael has been enormously supportive of our work behind the scenes – although this has clearly been hindered by the obfuscation of the Moats.

Michael has kindly summarised the details of the proceedings – and I have added some further information and thoughts.

I will now be asking all the Fast Pensions members to provide their documentation to my Assistant who will be collating as much evidence as possible for the Insolvency Service, insolvency practitioner and/or independent trustees.

The six companies originally placed into provisional liquidation by the Insolvency Service on 29th March 2018 were:
- Fast Pensions Ltd – company registration number 08121954 – was incorporated on 28 June 2012. The company’s registered office is at Crown House, 27 Old Gloucester Street, London WC1N 3AX
- FP Scheme Trustees Ltd – company registration number 09126225 – was incorporated on 11 July 2014. The company’s registered office is at 20-22 Wenlock Road, London N1 7GU
- Blu Debt Management Ltd – company registration number 06699233 – was incorporated on 16 September 2008. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ
- Blu Financial Services Ltd – company registration number 05912973 – was incorporated on 22 August 2006. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ
- Blu Personal Finance Ltd – company registration number 07758290 – was incorporated on 31 August 2011. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ
- Umbrella Loans Ltd – company registration number 07331044 – was incorporated on 30 July 2010. The company’s registered office is at Gilbert Wakefield House, 67 Bewsey Street, Warrington WA2 7JQ
The fifteen occupational schemes run by Peter and Sara Moat were:

Broughton Retirement Plan
DM1 Retirement Plan
Elphinstone Retirement Plan
EP1 Retirement Plan
Fleming Retirement Plan
FP1 Retirement Plan
FP2 Retirement Plan
FP3 Retirement Plan
Galileo Retirement Plan
Golden Arrow Retirement Plan
Leafield Retirement Plan
Springdale Retirement Plan
Talisman Retirement Plan
Templar Retirement Plan
VRSEB Retirement Plan

Despite the Moats being caught up in six companies and 15 occupational schemes no one was present to represent any of the named companies or schemes.

Peter and Sara Moat are not the only people connected in this pension liberation scam.

A connected party to the companies was Miss Jane Wright who is a former employee of Peter Moat. Mrs Sara Moat/Mr Peter Moat and Miss Jane Wright had an unhealthy connection as they were all in a net of other associated companies. A Mr Chapman – who did apply for administration before the last hearing but this was rejected – is also said to have been instructed by Peter Moat.

The Moats various companies were operating pension liberation schemes in the form of loans. The victims of these liberation schemes were later met with tax demands by HMRC as they payments they received were deemed as unauthorised payments.

When selling the schemes the Moats used unacceptable sales techniques – cold calling, mis-selling and with-holding important information were among these. Furthermore an upfront fee of £1,000 was taken from each investor at the start of the investment of the funds – and this was undisclosed to the members as well.

A total of £21m was transferred into the schemes under

Peter Moat’s control however there was no information on the pension portfolios and what happened to the investors’ funds. The victims have had no updates on the funds, commissions or fee´s. Miss Jane Wright (who acted as the “trustee”) would always state she would seek and come back when questioned by the members about their funds.

Furthermore it is now clear that Peter Moat was acting as a de facto director in breach of his disqualification while acting for Blu Finance Group.

AND

Mr Henderson – accountant to ALL the schemes was also a disqualified director.

In attendance for the Insolvency Service were Mary Greenwell, and colleague, Tim Ward, Provisional liquidator. With the following points being raised:

* There was a Lack of information and cooperation with the Insolvency Service investigation

* Failure to respond to determinations by the Pensions Ombudsman and/ no evidence of compensation paid to members

* No professional advisers were involved

* Commission on the investments were not disclosed – no transparency to the investors was given

* On reporting on schemes, there was simply one page per scheme which was very concerning

* Evidence of the lack of proper transfer requests

* The six selling points used to sell the schemes proved to be false

* Very unclear on the advice provided to investors

* No commercial prosperity

* No information re bank balances

* Lack of transparency to ALL involved – members/Insolvency Service/Pensions Ombudsman/Pension Life

* The skeleton argument showed a flowchart which demonstrated the net of the Moats

See how fast your pension can disappear?

All the companies involved in this scam were controlled by Peter Moat ( acting under disqualification) and using other people. The whereabouts of the funds presently is unclear – funds were transferred to and through other companies controlled by Peter Moat. Some of it was invested in Umbrella Loans which was insolvent. Some of it was transferred to the Blu companies.

All the funds will need to be traced as it is unclear what monies are outstanding, however with very limited information provided by the companies this may prove to be difficult. It is thought that a huge amount of funds will be practically impossible to track or find. Then there is the £4m paid in commission which obviously came from investors’ funds and is therefore no longer attainable.

What can be ascertained is the clear evidence of mis-selling and based on the evidence, it was in the public interest to wind the companies and schemes up as it was a very clear case that these people could not be allowed to continue

With all this evidence there was no doubt that the order should be made that the companies and schemes should be wound up.

What is a Pension Scam?
May 31, 2018