Tag: scammers

  • Locked Out of LinkedIn

    Locked Out of LinkedIn

    Locked out of LinkedIn for Defamation? Moi?

    Due to the receipt of multiple defamation claim reports, your account has been restricted pending your agreement to our terms. Please note that it’s our policy to terminate user accounts when we receive multiple reports of this nature.”

    But who could have reported me for defamation? The problem is that there are so many possible candidates who have been caught contravening regulations; not having sufficient qualifications and abusing titles. And, most of all, causing their clients to lose money.

    So, been wracking my brain and wondering what I could have written in my blogs that could possibly be classed as defamatory. Part of the problem is that I rarely write good stuff. You won’t often read things like: “Mr. G from the Costa Lotta told me he was so delighted with the advice he received from his properly regulated, qualified and behaved adviser that he hasn’t lost any money”.

    I only tend to write about people who have lost money – because they are the only people who contact me and ask for help.

    Getting out my crystal ball to find out who reported me for defamation.

    So, dusting off my trusty crystal ball, I went through all my blogs in the past year to see if I could work out who was behind this spurious accusation(or series of spurious accusations) of defamation. And I came across quite a few likely suspects. And of course, they are all parties who have caused victims to lose money or to be put in a position where they are at risk of losing money.

    Abbey Wealth – Spanish firm with no investment license currently being sued alongside Old Mutual International in the Spanish Civil Court
    Andrew Bailey – Head of Knitting at the Facilitating Crime Advocates – allergic to regulating; has his eye on the Bank of England top job
    Aviva – First in the alphabet of lazy, callous, negligent ceding pension providers who routinely hand over £ millions to the scammers
    Azure Pensions – Continuing trend set by Integrated Capabilities and Optimus QROPS; facilitated the Blackmore Global investment scam
    Belgravia Wealth – Dodgy advisory firm with job offer for financial advisers: “no financial qualifications needed”
    Berkeley Burke – Any old investments as long as they are pure crap, high risk, illiquid and pay the scammers high commissions
    Blackmore Global – Fund of illiquid, risky assets with no independent audit and no sign of return of funds to hundreds of victims
    Blevins Franks – Criminal offence in Spain with sale of Lombard death bonds which lock victims in and charge high commissions/fees
    CCI – Niall Coburn’s Coburn Corporate Intelligence – Australian wannabe claims management company
    David Vilka – long history of scamming victims into QROPS to be invested in worthless crap such as Blackmore Global
    Dolphin Trust – now known as the German Property Group with hundreds of angry investors (lenders) desperate to get their money back
    DWF Solicitors – acted both for the Insolvency Service and Stephen Ward (the scammer) in the Capita Oak pension scam
    FCA – knitting club for lazy people only interested in after-the-event, low-hanging fruit and zero interest in proactive prevention or action
    Flying Colours – run by Guy Myles (too many Ys)
    Generali – provider of long-term savings plans and death bonds to scam victims out of their savings and pay scammers huge commissions
    Gerrard Associates – firm run by Gary Barlow; worked in league with Stephen Ward; responsible for the London Quantum pension scam
    Gleeson Bessent – shut down by Insolvency Service; directors banned for “mis-management” and high-risk, high-commission investments
    HMRC – registers the scammers as pension trustees; registers the scam schemes; taxes the victims
    Insolvency Service – winds up investments used by scammers but doesn’t take robust action against the scammers
    International Adviser – PR agency for Old Mutual International
    XXXX XXXX – scammer behind Capita Oak, Henley, Westminster and Trafalgar Multi Asset Fund/STM Fidecs; under investigation by SFO
    John Ferguson – scammer who works with David Vilka; runs Square Mile Financial Services, Aspinall Chase and Aktiva Wealth Management
    Leonteq – provider of high-commission gambling products for scammers to earn high commission and to destroy victims life savings
    London Capital & Finance – “mini bond” destroyed 11,625 investors’ savings totalling £237,207,497; promoted by Surge Group
    Michael Doherty – cheeky Irishman who runs Robusto and Woodbrook Group which employed three ex Continental Wealth scammers
    Neil Woodford – former fund management star whose fund is now suspended and publicly exposed as being high-risk and illiquid
    Niall Coburn – Australian lawyer/barrister who aspires to claims management and is planning on learning English one of these days
    Old Mutual International – death bonds; works with scammers to destroy victims’ life savings e.g. £94m worth of Leonteq structured notes
    Olive Press – freebie publication in Spain which never lets the truth get in the way of a good story
    Patrick McCreesh – Phillip Nunn’s partner; lead generation for the Capita Oak scam and now runs the Blackmore Group investment scams
    Pensions Ombudsman – being deluged by Pension Life with complaints against negligent ceding providers who ignored the Scorpion warning
    Pensions Regulator – registered all the occupational pension scams and facilitated £ millions of financial crime
    Peter Kenny – CEO of Old Mutual International death office and responsible for the destruction of £billions of victims’ life savings
    Philip Hammond – pursuer of “caravan crime” who refused to address pension crime
    Phillip Nunn – partner of Patrick McCreesh; responsible for over 1,000 victims of XXXX XXXX´s pension scams losing their pensions
    Quilter Cheviot – in “partnership” with Old Mutual International and obviously doesn’t care about their professional reputation
    Robusto – owned by Michael Doherty and staffed by unqualified “advisers”
    Russell Fund – provider of mediocre, expensive investments to Blevins Franks
    Seagate – unregulated Spanish firm run by unqualified would-be “advisers”; claim to “work with all major International Death Companies”
    SEB – provider of death bonds and collaborates with scammers to destroy victims’ funds by investing in high-risk, high-commission crap
    Square Mile International Financial Services – Czech Republic firm run by scammers John Ferguson and David Vilka; insurance license only
    Stephen Ward – where to start!  Prolific scammer; destroyed thousands of victims’ life savings with high-risk, high-commission investments
    STM Fidecs – collaborated with scammer XXXX XXXX in the Trafalgar Multi-Asset Fund scam which conned 400 victims out of £21 million
    Surge Group – promoters of London Capital & Finance “mini bond”, and also Nunn & McCreesh’s Blackmore Bond – earning Surge over £60m
    Tinky Winky – arrogant twat, ex tPR, now LGPS
    Tolleys – publisher of Stephen Ward’s Pensions Taxation Manual
    Utmost Wealth – took over Generali but still hasn’t compensated the victims for their losses at the hands of the scammers
    Woodbrook Group – run by Michael Doherty; offers structured products to retail clients; owns Mondial in Dubai and Robusto in Germany
    Woodford Equity Income Fund – run by Neil Woodford and in deep shit

    Out of this lot, I have no idea who might have reported me to LimpedIn for defamation. But CRYSTAL BALLS to whoever it was.

  • Lack of knowledge leads to loss of funds – rogue advisers

    Lack of knowledge leads to loss of funds – rogue advisers

    Pension Life Bog - Lack of knowledge leads to loss of funds - rogue advisersPension Life blog - Lack of knowledge leads to loss of funds - rogue advisersThe Pension Scams Industry Group (PSIG) has carried out a pilot survey on pension scams. The survey has identified seven key findings and concluded that most scams are carried out by rogue advisers and unregulated “introducers”. This is something we write about regularly, so it is great that PSIG has finally caught up.

    Henry Tapper wrote a blog about the survey, ‘Shining light on pension scams.‘ He wrote:

    “Another significant concern was member awareness of advice. PSIG stated, after they found in almost half (49 per cent) of cases, the member had limited understanding or appeared to be unaware who was providing the advice, the fees being charged, or the receiving scheme to which the transfer would be made.”

     

    A lack of understanding of the way the financial industry works is something that the scammers play on.

    Pension Life blog - Lack of knowledge leads to loss of funds - rogue advisers

    Many of our blogs here at Pension Life focus on getting information across to the public. You owe it to yourself to understand how the pension system works. This understanding will empower you and your money, protecting it from the scammers. We provide the platform for this information, you just need to read it.

    However, time and time again we find we hit brick walls when sharing information.

    Our blogs are shared on lots of social media networks. I find in many cases – especially on Facebook – that the links to our blogs will get deleted after the admins refuse to approve them. Some readers state that the blogs we write about expat scams are not relevant to expat issues.

    We have been told that our blogs which highlight what questions to ask your adviser are of a commercial and marketing nature. Yet in none of our blogs do we try to sell anything – we just offer knowledge and warnings about how to safeguard your pension.

    When met with this negativity, how do we get the information out there? How do we educate the public?

    Future unaware victims need to know what to look out for and how to avoid a scam. Otherwise, the cycle will continue. The scammers will outsmart the public and they will continue to get rich off the ignorance of the public. And the victims will continue to see their life savings vanish.

    As the saying goes, “ignorance is bliss”. However, if the ignorance leads to you signing your life savings over to a rogue financial adviser – whose only interest is purloining as much of your fund as possible – ignorance is in fact negligence.

    Pension Life blog - Lack of knowledge leads to loss of funds - rogue advisersYou may think you can trust a financial adviser, but we live in a world full of scammers and crooks – quite a few of which are financial advisers. Some of them are very greedy and will stop at nothing to fatten their bank balance at your expense. They have no conscience when it comes to living a lavish lifestyle funded from another’s grim fate.

    At school, they teach us about history, geography, maths and more. There is no subject about how to look after your money. Basic education on how to look after our pennies or how to finance our future is not included in the curriculum.

    Knowledge is important when it comes to your finances.

    I can honestly say that before I started this job, I knew very little about pensions and how they work. I simply knew that a pension was something you get when you are ‘old’.

    But ‘old’ comes round too quickly. Whilst working hard, building, saving and living your life. Time flies by.

    It is all too easy for a rogue adviser to contact you out of the blue about a

    “free pension review” and lure you into a scam.

    At Pension Life, we are dedicating our time and words to help educate and inform you about pensions. Our blogs are full of information about scams, what questions to ask when transferring your pension and how to avoid falling victim to a scam.

    Make sure you know what questions to ask your IFA.

    Above all else – safeguard your pension from the scammers.

    Don’t spend your life saving for your future, just to let a rogue adviser snatch it away and spend it on theirs.

    We have put together ten essential standards that we believe every financial adviser and their firm should adhere to. Make sure you read the blog and ensure your financial adviser can meet these standards. If he can´t – find one that can.

     

  • REGULATORS AND SCAMMERS

    REGULATORS AND SCAMMERS

    Regulators in all jurisdictions must take action against scammers
    Regulators have got to do some effective regulating

    Regulators and scammers; cops and robbers; cowboys and indians. Each has their role: cowboys fire their six shooters and dodge the injuns’ arrows valiantly; cops drive their police cars at breakneck speed to corner the robbers in a dark alley; regulators waggle their flaccid willies and watch the scammers walk all over them.

    In the week my great friend had his appendix out (somewhat hurriedly as it happens) I thought I would write a slight variation on the Three Sausages poem:

    Regulation, regulation, regulation,
    Three scammers went to the station,
    One got crushed, one got killed, 
    And one got a huge operation. 

    In any civilised society, criminals are jailed. Ours should be the same.
    The sizzling scammers need to be put behind bars – and the keys need to be thrown away.

    Now, I am not suggesting I want the scammers crushed or killed – nor even that they suffer the same pain and discomfort that my mate has gone through in hospital this past week.  But I do want them stopped from harming more victims and destroying more life savings.  And, of course, put behind bars where the only thing they can scam is the soap on a rope.

    WHAT DO REGULATORS NEED TO DO AS A MATTER OF URGENCY?

    All regulators in all jurisdictions where has been a history of scamming and mis-selling need to work closely with governments, tax authorities, financial crime units, ombudsmen and the press.  There has to be a “zero tolerance” attitude to scams and scammers – and all those responsible have to be brought to justice.  And publicly so.  It is clear that most regulators – including the FCA – are limp, lazy and useless and this has to change.  Here are some examples of regulators’ failures in each jurisdiction:

    UK:

    • Allowing unregulated firms to provide financial, pension and investment advice freely and without sanction in the UK.  Sometimes these firms have an insurance license – sometimes none at all
    • Not sanctioning regulated firms for clear breaches and/or fraud – such as Gerard Associates which was introducing Ark victims to Stephen Ward of Premier Pension Solutions as far back as 2010, and was then providing “advice” to Ward’s London Quantum victims
    • Ignoring firms such as Fast Pensions who have defied 37 Pensions Ombudsmen’s determinations
    • Failing to coordinate criminal prosecutions against the scammers behind numerous scams who ruined thousands of lives and cost hundreds of millions of pounds’ worth of life savings
    • Failing to use existing legislation provided by FSMA 2000 to prosecute advisors (regulated and/or unregulated) overtly contravening the ban on communicating invitations to retail clients to invest in Unregulated Collective Investment Schemes
    • Announcing ineffective crack-down plans  by newly-appointed government minsters who have failed to grasp the enormity of the pension scamming industry and the desperate plight of thousands of pension scam victims

    GIBRALTAR:

    • Failing to police and sanction negligent pension trustees such as STM Fidecs for accepting members introduced by an unlicensed adviser: XXXX XXXX of Global Partners Ltd/The Pension Reporter – who was also the fund manager for the UCIS that all the victims had their pensions invested in and which is now being wound up
    • Refusing to communicate with members on the progress of the winding up of the Trafalgar Multi Asset Fund which had been run by XXXX XXXX
    • Omitting to take action against STM Fidecs for its role in the Cornerstone Friendly Society investment scam

    MALTA:

    • Taking no action against Trustees, Integrated Capabilities Malta Ltd (ICML) for accepting retail members from an unlicensed firm in the Czech Republic and knowingly permitting investments in Nunn McCreesh’s UCIS: Blackmore Global, as well as Malta-licensed fund Symphony – a sub-fund of the Nascent Platform that is licensed only for professional investors
    • Not sanctioning Customs House Global, that runs the Nascent Platform, for inadequate due diligence and accepting unscrupulous sub-fund managers (such as XXXX XXXX, investment manager of failed TMAF and later, the recently wound up Symphony Fund) that exploit the platform for the sole purpose of pension scamming

    CAYMAN ISLANDS:

    • Not sanctioning Investors Trust for accepting high-risk UCIS investments for retail investors: Blackmore Global and Symphony

    CZECH REPUBLIC:

    • Allowing an unlicensed firm – Square Mile Financial Services – to operate freely in the EU, providing pension and investment advice with only an insurance mediation license

    ISLE OF MAN AND IRELAND:

    • Ignoring insurance companies which accept investments in UCIS funds and professional-investor-only instruments for retail investors
    • Failing to recognise those registered Closed-Ended Investment Companies whose true nature is as a Collective Investment irrespective of their form, such as Blackmore Global (registered number 010221V), that intentionally circumvent the stricter regulations imposed on collective investments, specifically to hide their financial accounts and the sub-funds which invariably include unsigned loan notes and high-risk hare-brained projects

    DUBAI:

    • Permitting brokers to use unqualified advisers to scam investors into high-risk, high-charges products

    SINGAPORE:

    • Allowing a bank – United Overseas Bank – to steal £2.5 million from a British client and taking no action

    NEW ZEALAND:

    • Failing to act against a pension liberation scam – Evergreen Retirement Benefits Scheme – run by Simon Swallow who was working with Stephen Ward of Premier Pension Solutions and operating Marazion “loans”

    GUERNSEY:

    • Ignoring Concept Trustees (Guernsey) who offered retail investors the EEA Life Settlements UCIS and then accepted investment instructions from unlicensed, un-insured Stephen Ward of Premier Pension Solutions

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    As always, Pension Life would like to remind you that if you are planning to transfer any pension funds, make sure that you are transferring into a legitimate scheme. To find out how to avoid being scammed, please see our blog:

    What is a pension scam?

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