Pengwern Wealth Management SIPP Pensions Claim
Pengwern Wealth Management | Do You Have A Claim?
With the use of both unregulated and risky investments, Pengwern Wealth Management LLP had numerous allegations made against them by the FCA. As a result, they made the headlines on the account of having advised several unsuitable clients into these ventures with their SIPP pension. As of May 2014, Pengwern Wealth Management was dissolved by the FCA and is no longer in any way authorised to conduct these types of services.
Some advisors received 65% commission on the initial investment. This was as a result of investing into bio-fuels which were commonly known as Sustainable Agro Energy, these were estimated to have had an excess of £23million as British investors quickly dived in and significantly increased the capital. In spite of this, investors have taken a drastic fall due to the Serious Fraud Office conducting an open case. Investigations were being conducted into the events leading into what took place, as such, those involved in selling are expected to deal with jail terms. These include quite a number who were cashing in on the 65% in commissions from the transfer of pensions.
Numerous firms have advised clients to invest in these risky and heavily unregulated investments and Pengwern Wealth Management LLP was one of them. If you invested in the Sustainable Agro Energy, you are not accountable in any way. The method in which investors sold made a great deal of sense, especially if you were interested in green investments which seemingly made the world a cleaner and greener place with some sizable promised returns.
Sales were however made on the premise that the invested money would be allocated to plantations of what was known as green-oil in Cambodia. This was going to be seemingly done with the use of Jatropha trees which were supposed to produce biofuels for numerous uses and provided many benefits instead of alternative energy which stemmed from crude oil.