Agent investigated by Severe Fraud Office
A former overseas property agency group is beneath investigation by the Severe Fraud Workplace for its function in the sale of ?bio fuel?. investment merchandise..
Global edge understands that the agency has had its bank account frozen following the conclusion of an investigation into the activities of its item partners Sustainable Agroenergy Plc and Sustainable Wealth Investments UK Ltd..
The item beneath investigation is a Green Oil project in Cambodia and Thailand utilizing Jatropha trees.. The item was becoming sold through self invested personal pension schemes and an location of concern is believed to be the give of ?money-back?. to pension investors which is against Economic Service Authority (FSA) Rules..
The agency in question was 1 of the largest sales agents for Caribbean property during the boom years and their diversification into ?alternatives?. is a portion of a wider business trend.. Green investment is a compelling sales hook, the margins are high and commissions are paid immediately.. Regrettably for many, due diligence is an soon after thought.. Sales-hungry agents and a loose regulatory atmosphere has created a glut of green investment solutions ?. a number of of which can at most effective be described as opaque when it comes to threat assessment..
The outcome is a trust vacuum and a genuine possibility of regulatory clamp down.. Products like the SIPP investment platform are crucial for constructing each market and consumer trust in a product category that provides excellent rewards if you can successfully navigate the sharks..
Source: International Edge .