What happened with the Green Oil Plantations investments?
Seeking investment capital to fund a tree plantation in Australia, Green Oil Plantations Ltd. raised huge amounts of money (almost £25m) despite the fact that it was an extremely high-risk scheme. As we’ve seen in similar schemes, it was also unregulated, which meant the Financial Conduct Authority (FCA) was not able to ensure proper processes were upheld.
The premise was that the tree oil from the Green Oil plantation would be harvested after two years of growing. Primarily, the oil would be sold as biofuel as well as fertiliser and livestock food. In initial returns forecasts, there were promises of high oil yields to come within the first two years. These yields never came to fruition and the 1,131 investors received little to no of the promised returns. In the end, Green Oil Plantations went into administration in 2013.
Given that most investors parted with significant sums of money taken from pensions that were safe, steady, and guaranteed, it is absolutely vital that they make a claim to receive compensation for which they are entitled. If you were a Green Oil Plantations investor, you may have lost retirement funds, leading to a significant loss and change in lifestyle when the time comes to retire.
We have written more about the Green Oil Plantations scheme here: it goes further into detail than we do here, and will provide you with an abundance of information and resources relating to the investment scheme.
Claim compensation for your mis-sold Green Oil Plantations SIPP Investment
Our team is on hand for any more advice or information you may need concerning your Green Oil Plantations investment. Fill in the form to the right, call us on 0161 968 0768 or, alternatively, get in touch here. A member of our team will be more than happy to discuss your situation further, as well as your options.
How to stay vigilant against scams in 2020
To ensure you are not caught up in similar investment schemes, or that you’re not misled by bad financial advice, you need to read between the lines and stay alert against every red flag in the book.
Here are our most popular resources when it comes to protecting yourself, and your finances, against scams and pension mis-selling.