Falcon International Estates was a pension provider that was placed into liquidation in early 2018 following a dispute over mis-sold investments.
Falcon International Estates
A representative of Falcon International Estates known as Mr A sold a pension investment to a couple, known as Mr and Mrs W, in 2012.
Over the course of a year, the couple paid over £40,000 into Falcon International Estates via Mr A. However, the couple flagged in this time that they received no official papers for the agreement. Without papers, they had no proof that the agreement had taken place.
After investing over £40,000 the couple got directly in touch with parent company Falcon International Financial Services Limited. The firm claimed to have no knowledge of the investment, and that Mr A had stolen the money.
After finding out that their investment could have been lost, the couple complained to the Financial Ombudsman Service (FOS). The FOS ruled in favour of Mr and Mrs W. The firm’s objected that the couple were not the firm’s customers.
It was stated that as Mr A was a representative of the company, Falcon International Financial Services Limited is liable for the investment.
The FOS ordered the company to repay Mr and Mrs W the money they had lost, as well as £1,000 compensation and 8% statutory interest.
We litigate on behalf of thousands of people who found themselves in a similar situation to Mr and Mrs W. However, with overseas investments the company or representative may be unreachable to chase an investment.
This is where we step in, to chase firms for our clients through the courts and ensure they get the compensation they deserve.
Does Mr and Mrs W’s situation seem all too familiar to you? Get in touch for support and advice.