Sustainable AgroEnergy was a fund promoted by financial advisors to clients across the UK. It was concerned with biofuel produced on a Cambodian plantation. Advisors mis-sold SIPP pension funds to clients, investing their money into high-risk funds like Sustainable AgroEnergy. Did you receive advice to withdraw money from your pension to invest in Sustainable AgroEnergy? Did your advisor fail to explain the risks of this fund to you?
If so, you may qualify for mis-sold Sipp compensation.
What happened with Sustainable AgroEnergy?
Sustainable AgroEnergy was a Cambodian biofuel fund. It was a risky and illiquid asset dating as far back as 2010, included in many Sipps without the investors’ knowledge. It was later described as a “thickening quagmire of dishonesty… there were more than 250 victims of relatively modest means some of whom had lost all of their life savings and their homes.”
The fund was shut down after a Serious Fraud Office investigation – three individuals were convicted and jailed in the UK, and one person was detained in Cambodia. Victims of this fund turned to the Financial Ombudsman Service (FOS) for restitution. The FOS ruled that many advisors broke Financial Conduct Authority (FCA) rules by selling Sustainable AgroEnergy to their clients without doing enough research.
They mis-sold SIPP pension products, and their clients suffered as a result.
Did you invest any of your pension funds with Sustainable AgroEnergy? If a Sustainable AgroEnergy advisor convinced you to put your pension money into their investments, only for that investment to fail, you might qualify for mis-sold SIPP compensation.
Our claims experts can advise on whether you could qualify for mis-sold SIPP compensation.
Apply online today for an information pack to learn more.
If a financial advisor advised you to invest in an unregulated investment such as Sustainable AgroEnergy, it is still possible to claim compensation. Where the advisor is still operating, a claim can be pursued against the financial advisor via the Financial Ombudsman Service (FOS).
If an advisor is no longer operating, the Financial Services Compensation Scheme (FSCS) pays compensation for valid mis-selling claims against any financial advisor who has been declared in default by them.
If your pension included investment in Sustainable AgroEnergy, you could be entitled to compensation.Apply Now
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Once we've assessed claim prospects, we make a pension complaint to the Ombudsman or FSCS, where appropriate
Pension complaint response received. We'll carefully analyse the response and advise you on how to proceed.
If appropriate resolution cannot be reached with a live firm, and we disagree with their stance, we will refer the claim to Ombudsman on your instruction.
Allegiant always aligns great value with exceptional service. This winning formula has seen us emerge as one of the UK’s pre-eminent Claims Management Companies in recent years. See why Allegiant is a great choice below. *All information correct as at 28 August 2021.
How our fees work in practice:
• Compensation is £1,000, the fee is £150 plus VAT £30. This means the amount payable to us is £180 leaving you with the benefit of £820.
• Compensation is £3,000, the fee is £450 plus VAT £90. This means the amount payable to us is £540 leaving you with the benefit of £2,460.
• Compensation is £10,000, the fee is £1,500 plus VAT £300. This means that the amount payable to us is £1,800 leaving you with the benefit of £8,200.
NB. It is possible that our fee may become payable before you have access to your pension or investment which may result in you having to pay our fee from your own funds.
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You can cancel this agreement at any time after the 14-day cancellation period. However, if a complaint submitted by us is successful, the Success Fee will apply in the usual way.
You can cancel by post: Allegiant Finance Services Limited, Freepost RTYU–XUTZ–YKJC, 400 Chadwick House, Warrington Road, Birchwood Park, Warrington, WA3 6AE; (b) by email: firstname.lastname@example.org; (c) by telephone: 0345 544 1563; or (d) online at https://allegiant.co.uk/legal/cancellation.
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