Hundreds of individuals were cold called by a company called Avacade and offered a free pension review. Some of these people were persuaded to transfer their pensions into self-invested personal pension (SIPP) schemes and then offered a choice of investments including InvestUS.
InvestUS purchased repossessed properties in Detroit, Florida and Chicago, following the mass foreclosures in the US after the financial crisis. The properties were then renovated, let and sold on. The scheme’s promotional material, suggested it could deliver net returns of 15% per year over three years.
Invest US has now failed. It was high risk and never suitable as a pension investment.
Anyone who was persuaded to invested their SIPP into this risky scheme is eligible for compensation for all their losses.
InvestUS has entered liquidation. The Financial Services Compensation Scheme can only pay out £50,000 per investor.
APJ can fight to secure the full amount you invested back for you.