Are you, one of the many Brits who invested their SIPP into Elysian Fuels? If yes, the bad news is that the share prices were reduced to zero and this appears to have been a huge SIPP mis-selling.
Fortunately, our team of claims specialists are currently working on ways we can help you recover your lost funds. We have been helping UK citizens who have been mis-sold SIPP schemes to get back their lost funds. When you call us, we will review the advice you received from your IFA, and then help you determine if you are eligible to make a mis-sold SIPP claim.
Elysian Fuels was established back in 2010, as a part of a Bioethanol plant in Grimsby. The project received over 200 million pounds, with more than 90% of the investments coming from SIPP pension investments and savings.
Elysian Fuels was set up by Future Capital partners limited and entailed investing in energy plants in the UK and US. However, the project failed and many investors lost thousands of pounds as the value of the investment was reduced to zero in October 2015.
How Was the Elysian Fuel Investment Mis-sold?
It is believed that Future Capital Partners Ltd used unregulated introducers who persuaded people to transfer their existing defined benefit schemes into a SIPP to invest in the Elysian Fuel project. Most people applied to have their pension transferred into a SIPP between 2012 and 2015, and usually spent a minimum sum of £50,000.
If you were encouraged to transfer your pension into a SIPP, and invested in the Elysian Fuels, you might be eligible for compensation. The truth is that the Elysian Fuels Investment was a high risk, an illiquid investment that was not regulated by the Financial Conduct Authority (FCA). This meant that if anything went wrong with the investment, the FCA could not intervene and investors would not be compensated.
High-risk investments, such as the Elysian fuels project are only recommended to high net worth individuals earning more than £100,000 and sophisticated investors who are experienced in managing risk. It is the work of your Independent Financial Advisor to assess your financial circumstances and attitude towards risk, before recommending you to such investments. However, most IFAs fail in their duty of care as they are promised high commissions. They are more concerned about their high profits rather than your wellbeing.
If you believe you were mis-sold the Elysian Fuels Investment, we can help. We have a team of claims specialists who will be able to guide you step by step through the claims process. We will work diligently to ensure you are compensated for any loss you incurred due to the negligent advice offered by your IFA, the failings of your pension provider, in not undertaking appropriate due diligence.
How Do I Know I am Eligible to Claim for Compensation?
You may be eligible to claim for compensation if any of the statements below apply to you:
- Your financial advisor convinced you to transfer your pension without there being any benefit to you.
- Your advisor pressured you into transferring your existing pension into a SIPP, so that you would invest in high risk, non-regulated Elysian Fuels Investment Scheme.
- You were not told all the investment opportunities that were available to you. Your advisor was responsible for informing you about other suitable products depending on your circumstances instead of just recommending the Elysian Fuels Investment Scheme
- Your financial advisor encouraged you to move your funds from another existing investment into another with a promise of higher returns.
- Your financial advisor told you that your initial investment was utterly safe even if the promised returns never materialised.
Your financial advisor never bothered to explain all the terms of your investment to you. For example, you were not informed about the financial penalties you had to pay if you decided to take your money early.
Were you victim to a pension scam?
Find out how much you can claim.
Get a fair estimate of your compensation with our free, no-obligation pension assessment.
No Win No Fee
Over £100 Million Recovered Since 2011
99% Success Rate*
“Thank you so much for helping me recover compensation for my lost pension. I still can’t believe that I received an offer of £50,000 in just over 8 weeks!”