Was your Sipp placed in the Ethical Forestry investments scheme? If so then you may be one of many who are able to make a complaint and potentially seek compensation. Ethical Forestry investments is one of the schemes run by Ethical Group, which has been investigated by the Serious Fraud Office. Allegations of mis-selling have now stacked up against Ethical Forestry and it’s thought that thousands of people could be affected.
Ethical Forestry investments
The Ethical Forestry scheme provided a way to invest in ethically-managed Costa Rican forests. When trees in those forests were harvested or replanted, investors were promised returns. Issues with Sipp investments are currently in the spotlight and problems with the Ethical Forestry investments scheme have been building for several years. The scheme itself is now in liquidation, which is incredibly problematic for investors. Thousands of people claim to have invested in the scheme and lost money as a result – and many of these held the investment via Liberty Sipp.
Liberty Sipp involvement
Sipp provider Liberty has found itself the conduit for connecting up individuals with this very flawed investment. With a minimum investment of £18,000 and at least 3,000 people committing to it, there are some significant numbers at stake. While Liberty Sipp has refused to take any responsibility for the issues, and says that it has carried out all the requisite due diligence required by law, there have already been several successful claims.
Ethical Forestry investments – Claim Back On Liberty Sipp
If your Sipp was placed in the Ethical Forestry investments by Liberty Sipp then you may also be able to make a claim. Claims for mis-selling are based on a number of key factors, including:
– A lack of investor awareness with respect to the level of risk in the scheme
– Pressure being applied to get an investor to commit
– An investor who is new and doesn’t really understand what’s involved in the investment or the investment process
– Being given bad advice and recommendations to opt for a scheme that isn’t appropriate
– The purpose of the Sipp was tax avoidance
– There are additional costs and expenses that weren’t clarified before the investment was actually made
– A lack of awareness of how this type of investment would affect your tax position and/or liability
It’s not necessary to have already lost money if your Sipp has been placed with Ethical Forestry investments. It’s still possible to make a claim for mis-selling without any loss having yet occurred. Compensation of up to £50,000 can be achieved via the Financial Services Compensation Scheme.