On the web of pension scams It seems as though criminal convictions against pension scammers might be getting popular. More than a decade has gone by with virtually none of the usual suspects getting jailed – despite a few criminal investigations (that, so far, have not resulted in convictions). Is the system really that hopeless […]
The Web of Pension Scams Read More »
The FCA seems to have woken up. It only took eleven years. Eleven years of laziness, torpor, disinterest and deliberately ignoring the problem. But, completely out of the blue, the FCA has suddenly got bored with crapping on bathroom floors and has decided to do a spot of rather belated regulating. The object of this
FCA Investigates Ark and AES Read More »
The Spanish criminal trial of so-called “financial advisers” in Denia has exposed the widespread fraud routinely committed in offshore financial services for over a decade. This particular stage of this particular trial may be directed at just eight members of Continental Wealth Management and Premier Pension Solutions. For now. But the case – brought by
Fraud Trial Against Pension Scammers in Spain Read More »
January 28/29 2021 saw the cross examination of Stephen Ward in Pension Life’s criminal case in the Denia court. Ward gave the judge an elaborate explanation as to how and why none of the Continental Wealth Management pension and investment scams were his fault. Ward provided the pension transfer “advice” to hundreds of Continental Wealth
Vicious Circle of Stephen Ward’s and Dalriada’s pension scams. Read More »
Today, 7th April 2020, was supposed to have been the second part of the Continental Wealth Management criminal trial. Obviously, due to Coronavirus, the hearing has been postponed. For now. As soon as the pandemic is under control and life in the courts (and elsewhere) gets back to “normal”, the hearings will be rescheduled. This
Fraud and Disloyalty in Offshore Financial Services Read More »
This landmark Continental Wealth Management criminal case will inevitably shine a much-needed spotlight on the issue of offshore financial services generally. CWM was just one example (albeit an extreme one) of an international financial services culture which generally disadvantages and/or defrauds consumers. The cause of this culture is a combination of the obsession with the insurance bond cartel; the total reliance on (hidden) commission; the practice of churning (investing the same sum of money as often as possible to generate as much commission as possible) and the view that the client’s money and interests are secondary to the adviser’s.
CWM Criminal Case and Business Plan Read More »
The routine “sale” of insurance bonds (whether the clients need them or not – which 99% of the time they don’t) is illegal in Spain. Undoubtedly this will be similar or identical in other jurisdictions. The Spanish Supreme Court has ruled that insurance bonds are invalid for the purpose of holding investments. But still the scammers continue to flog them indiscriminately – purely for the fat commissions.
CWM Criminal Trial 24th February 2020 Read More »
Meghan and Harry – the Duke and Duchess of Sussex – are having a tough time (and are running away from home). Their sadness and confusion is because they have no purpose or passion in life. So I am offering them an interesting and satisfying challenge: taking on and championing the cause of pension scam
Meghan and Harry’s New Challenge: Pension Scams Read More »
Pension and investment scams have flourished on the Costa Blanca for more than ten years. As each scam gets shut down, the scammers set up new ones – scammers never change their spots. They need new victims constantly – so the public must always be vigilant.
Pension Scammers in Spain – CWM must be a lesson to all Read More »
Mail on Sunday’s Laura Shannon met a group of victims of the Continental Wealth Management scam in Denia in July 2019. Here is a link to her excellent article Continental Wealth Management – “Plunder in paradise”: MAIL ON SUNDAY ARTICLE All power to her, this young lady put all other would-be investigative journalists to shame.
Continental Wealth Management – “Plunder in paradise” Read More »
Boris Johnson for PM – sorting out pension scams? Hey BJ – just a quick note to wish you luck in the PM contest. If you win, please make it your priority to sort out pension fraud. Treating head lice – like fighting pension scammers – is a matter of the utmost urgency. Everyone knows
Dear Boris – when you’re PM… Read More »
Fighting pension scams needs to be done logically and methodically. Decent advisers need to use high standards to help fight scams. If these standards become the norm, the scammers won’t survive and flourish so easily. Fighting pension scams – Qualifications Most qualified advisers want nothing to do with pension scams. Many offshore firms employ advisers
Fighting pension scams – Qualifications Read More »
