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Capita Oak

Did you invest your pension with Capita Oak?

Capita Oak Pension Scheme has been shut down following revelations of mis-sold pension products, and for its part in one of the UK’s biggest and most complex pension scams.

Mis-sold pension transfers

Capita Oak operated in a similar way to many firms who were guilty of mis-selling pensions at the time. They employed skilled salespeople to cold call potential investors, making them an offer that was hard to refuse. Their polished marketing materials promised guaranteed returns of 8% over a decade and the chance to enjoy a financially comfortable retirement. Sadly for many investors, the opposite turned out to be true.

Pension holders who were convinced to transfer their pensions over to the Capita Oak Pension Scheme had their funds invested into numerous unregulated collective investment schemes, including the notoriously disastrous Store First storage pod scheme.

Many of these projects failed to deliver their promised returns, with some going out of business altogether. Investors were left with little or no money and ongoing management fees adding insult to injury.

UK-wide pension scam

In May 2017, the Serious Fraud Office (SFO) announced it was investigating the Capita Oak Pension Scheme for its part in a UK-wide pension scam.

The scam was masterminded by four company directors and so-called pension experts: Stuart Greehan, Karl Dunlop, Ian Dunford and Mike Talbot. These individuals colluded to set up a complex system of pension transfers and investments which profited them greatly but resulted in over 1,000 pension holders and investors losing a combined total of £120 million. 

They have now been banned for 34 years collectively and the SFO investigation into their actions continues.

Transeuro Worldwide Holdings (operated by Mike Talbot) funded introducer firms Sycamore Crown (directed by Greehan) and Jackson Francis. In turn, these introducers convinced members of the public to transfer their pensions into SIPPs pension schemes operated by Omni Trustees (directed by Dunsford) and Imperial Trustees Services (directed by Dunlop). Capita Oak was one such pension scheme, along with Henley Retirement Benefit Scheme.

Funds from these schemes were largely invested into unregulated investments which failed to generate anywhere close to the returns promised to investors. One of the main recipients of funds was Store First, which just so happened to be run by Toby Whittaker, a close friend of Mike Talbot.

The scheme was so complex that many victims are not aware of which companies were involved. If you’ve had dealings with any of the following, we’d like to hear from you:

Make a claim against Capita Oak

For the investors who lost all or part of their life savings, picking up the pieces has been, and will continue to be difficult. They were the innocent victims of a carefully managed operation which had little or no chance of success. 

If you are one of the many pension holders who lost money as a result of transferring their pension to Capita Oak Pension Scheme you may be entitled to compensation.

We have worked with a number of people who were left out of pocket by unregulated pension schemes, and we always go the extra mile to get the justice they deserve. Like any other claims management company, we can’t make any promises in regard to compensation, but we can guarantee that we will do all we can on your behalf to right a wrong that should never have been allowed to happen.

The team at Beat the Banks are ready and waiting to hear from you. Enter your details into our online contact form or give us a call on 0800 193 1234 to discuss your case with us in confidence.

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