Rimondi Grand was a popular hotel investment located on the Greek island of Crete. Thousands of UK investors were enticed into investing in this luxury hotel complex, only to lose their precious retirement savings – the Rimondi Grant is worth nothing now. Smooth-talking financial investors duped people like you into transferring their savings from a safe and stable scheme into risky mis-sold Sipp funds. Did this happen to you?
While the Rimondi Grand Hotel is open and welcoming guests in Crete, the investment funds are no longer paying returns on investments like yours. If you were mis-sold Sipp pension products that included the Rimondi Grand Hotel, you could have recourse to mis-sold Sipp compensation from the Financial Services Compensation Scheme (FSCS). To find out more, keep reading ahead.
What Happened with the Rimondi Grand Hotel?
It certainly seemed like an attractive proposition – move your retirement savings from your stable fund to a Self-Invested Personal Pension (SIPP) that included the Rimondi Grand in Crete. Who wouldn’t want their investment to fund a wonderful holiday resort?
That’s exactly how financial advisors duped investors into parting with their money. If you were told to invest in The Resort Group Plc in Gibraltar, you probably lost a lot of money. The Resort Group managed the Rimondi Grand investment, and they mis-sold Sipp funds to thousands of people.
The Resort Group was founded in 2007 and was based in Gibraltar. Their resorts, including the Rimondi Grand, were featured in a BBC Panorama investigation that uncovered their wrongdoings. Were you mis-sold Sipp pension funds operated by The Resort Group?
Are you entitled to mis-sold Sipp compensation from the Rimondi Grand Hotel?
If you invested in the Rimondi Grand Hotel, you could have been mis-sold Sipp products. The Resort Group is no longer licensed to do business, and they cannot offer you any further returns on your investments. However, you may be able to recoup some of your losses via the FSCS’s mis-sold Sipp compensation scheme.
Did any of the following happen to you?
- Did your financial advisor pressure you into investing in the Rimondi Grand Hotel?
- Did they fail to tell you this was an unregulated fund that carried significant risks?
- Did your financial advisor fail to assess your financial situation, and sell you financial products better suited to high net worth individuals earning more than £100K per year?
- Did you feel forced or that your advisor was pushy?
- Were all fees and charges clearly laid out, or did you face hidden charges?
- Were you told that your return would depend on the fund’s performance?
- Did your advisor or The Resort Group fail to tell you that if you exceeded the £40,000 tax-free limit, you could be subject to the 55% income tax rate?
- Did your mis-sold Sipp negatively impact your finances?
If you invested in the Rimondi Grand Hotel, you’re not alone. Our claims experts can help assess your case and help you navigate the claims process. Apply online today for an information pack to learn more.
FSCS Rimondi Grand Hotel Claim
Rimondi Grand Hotel has been declared in default by the Financial Services Compensation Scheme. This means that the UK’s compensation scheme for failed financial services firms will pay compensation for valid mis-selling claims. Allegiant can assist you with claims to the FSCS about Rimondi Grand Hotel . Fill in our online application form to get started.
You do not need to use a claims management firm to make your claim and if your complaint is not successful you can refer it to the Financial Ombudsman Service or in the case of a failed firm, the Financial Services Compensation Scheme, for free.