What is The Resort Group and what was the impact of their overseas property investments?
The Resort Group is an overseas property developer based in Gibraltar. In 2016, the company came into the spotlight when the BBC conducted a Panorama investigation that exposed their pension mis-selling.
The purpose of The Resort Group’s investments were to build resorts, including hotels in the Cape Verde area. As a result of the advice given, many people were convinced to invest their pension fund into this particular scheme.
However, little did investors know, they were subjecting themselves to high-risk investments that were not regulated by the Financial Conduct Authority (FCA). Like any other SIPP, investors were not told about the risks involved in investing in the The Resort Group’s Overseas Property Investments.
More specifically, the BBC investigation revealed that financial advisors in the group were unlawfully giving pension advice that included a guarantee of 10 percent interest a year for an investment in the Cape Verde development.
What should I do if I have bought a SIPP from The Resort Group?
If you have invested in The Resort Group’s overseas property investments, get in touch with our dedicated team at Expert Pension Claims today – mis-sold pension claims are what we deal with.
When you decide you make your claim with us, we will contact your SIPP provider on your behalf. We will put forward your case, explaining clearly how you have been mis-sold.
Where your SIPP provider does not uphold your complaint, we can then take your case to the Financial Ombudsman. The Financial Ombudsman finds in favour of two-thirds of SIPP cases, so there is a good chance you will be successful – especially with expert representation from our team.
So, if you believe you have been mis-sold a SIPP from The Resort Group, contact Expert Pension Claims to find out more about how we can help you. In the meantime, be sure to keep in touch with our blog section for the latest news in the industry, and how to avoid being a victim of financial mis-selling.