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Terrence Wright

Commercial Land & Property Brokers and Terrence Wright

Terrence Wright, known also as Terry Wright and Ben James, ran a considerable boiler room scam from his villa in Spain cheating hundreds of pension holders out of their hard-earned savings.

Operating in the UK without authorisation

Wright’s firm – Terrence Wright Associates – was a real estate agency in Estación de Cártama on the Costa del Sol. However, behind the scenes and without authorisation in the UK, Wright was cold calling UK pension-holders and convincing them to transfer their pensions into Self-Invested Personal Pensions (SIPPs) and invest in one of his schemes. He operated this scam under the name Commercial Land and Property Brokers (CL&P).

CL&P peddled a myriad of unregulated, high-risk investments including:

Wright and CL&P were neither authorised or regulated to provide financial services to UK based consumers, a fact confirmed by an FSA notice issued in October 2010 and subsequently updated by the FCA in November 2013. Despite these notices, a number of UK firms continued to accept business from CL&P. 

Carey Pensions, which provided execution only SIPPS, are known to have accepted instructions from CL&P as far back as August 2011 before terminating their agreement in 2012.

Similarly, Stadia Trustees, who were declared as being in default by the Financial Services Compensation Scheme (FSCS) in January 2018, were also found to have acquired clients from Wright’s various companies.

Were you a client of Terrence Wright?

If you were recommended by Wright or one of his unauthorised trading names to transfer your pension into a SIPP with Cary Pensions, Stadia Trustees or a similar SIPP provider and have lost money, Beat the Banks are here to help. 

We have the experience and know-how to seek the justice you deserve – call us on 0800 193 1234 to find out what we can do for you.

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