A direct link with fraudulent scheme Ethical Forestry and claims of mis-selling haven’t put off new investors. Self-invested personal pension (Sipp) provider Liberty Sipp reported a 35 percent increase in profit.
Liberty Sipp and APJ
APJ recently issued more than 30 cases against Liberty Sipp. We have 700 clients who claim they were mis-sold a Sipp scheme. The unregulated schemes offered to our clients have left their pension pots at risk.
One of our Sipp litigators Glyn Taylor said: “Liberty Sipp has argued that only a small amount of legacy investors have lost money through unregulated investments. However, from the cases we have on our books at the moment, this isn’t the case. We estimate that as many as 10 percent of Liberty’s investors have been affected. We also believe there could be many more.”
Investors suffered huge losses following the poor advice. We will seek to merge our 30 cases to ensure our clients’ financial future is secure.
Ethical Forestry
One of the most controversial schemes offered to investors was Ethical Forestry. The scheme offered investors an eco-friendly way to secure their pension pot. It promised high returns for trees harvested from a patch of land, which were then replanted.
However, the Costa Rican scheme went bust. As a result, investors were left out of pocket. It also became clear many were unaware of the risks of the scheme.
Financial mis-selling
Many that investeds were mis-sold the product. Introducers misled their clients on the level of risk involved, as well as the features of the scheme. This amounts to mis-selling. Therefore, investors are due compensation for their losses.
If you were sold a scheme by Liberty Sipp that was unsuitable for you, it may have been mis-sold. Get in touch today for support and advice.