Cumulus Investment Management and Ukrainian Property SIPPs
Have you been given advice from Cumulus Investment Manager Limited, and as a result decided to transfer to a SIPP pension, and invest your retirement funds in Ukranian Property?
If so, you may have quite a story to tell, but before you do, you might want to know that the Financial Ombudsman Service has a lot to say as well, as there have been 10 complaints, so far, upheld against Cumulus Investment Management relating to the Ukranian Property Fund – including their failure to declare a conflict of interest.
The Current Status of Cumulus Investment Management Ltd
The FCA has ordered Cumulus Investment Management to “Cease All Regulated Activities”, and has given specific references to “Cumulus Eastern European Property Fund Limited”.
The Firm has been told that they must not dispose of, diminish the value of or otherwise deal with any related assets.