Capita Oak Pension Scheme and Henley Retirement Benefit Scheme
Having worked hard all their lives, a number of people were persuaded into transferring their savings and pension pots into Self-Invested Personal Pensions (SIPPs) and investing in Capita Oak and Henley Retirement. Tragically, in these particular instances the scheme was little more than a scam, with the inevitable end result being the loss of a huge sum of money from the well-meaning investors.
It’s estimated that around £39 million was invested in total into this highly complex scheme. The process began in an all too familiar way. Slick, fast-talking sales specialists would contact potential investors, often via cold calling on the phone, and their carefully-honed sales pitch would get the individual interested. These advisors would seem to have all the answers, but in truth they were usually unregulated.
The concept that seemed to promise so much was the provision of self-storage units in locations all over the country. The advisors had professional-looking marketing materials to back up the authenticity of their schemes. For the investor, the combination of persuasive selling, glossy brochures and a supposedly guaranteed yield of 8% on their initial investments seemed too good to be true.
We all know now that that’s exactly what it was. Returns failed to live up to promised expectation, and before long the Pensions Ombudsman, the Insolvency Service and the Serious Fraud Office were involved. In 2018, four company heads that were involved in the various schemes that were linked together in this case were banned for a combined total of 34 years.
For the investors who lost all or part of their life savings, picking up the pieces once again 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. It’s heart-breaking to see so many good, hard-working individuals left in the wake of this, when all they wanted was to make their golden years a little more comfortable for themselves and their loved ones.
Small fish, big pond – an unpleasant scheme that involved a complex network of companies
Both Capita Oak and Henley Retirement were part of a much larger operation, so if you were a victim you may not be aware of which companies were involved. If any of the following names seem familiar, we’d like to hear from you:
• Capita Oak
• Henley Retirement
• Store First
• Westminster Pension Scheme
• Transeuro Worldwide Holdings
• Sycamore Crown
• Jackson Francis
• Omni Trustees
• Imperial Trustee Services
Schemes like these should never be allowed to happen again, but it’s far too easy for ordinary investors to be tempted by pressurised sales pitches. Before signing up to anything as potentially risky as this, investors should make some background checks on the companies involved, and to seek out some impartial advice from accredited, experienced professionals.
Such advice is all too little and too late for those caught up in the Capita Oak and Henley Retirement cases, however. Many investors have lost six-figure sums, money which had been set aside for their retirement years, and are now left facing an uncertain and potentially unpleasant future. If you were one of those unfortunate victims, you should get in touch with Beat the Banks at the earliest opportunity.
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 in a bid 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.
Generally speaking, SIPPs were aimed more at the discerning investor, individuals who had some knowledge of where best to invest. Unfortunately, in cases like this, cold callers were able to persuade innocent victims to move their money into schemes which promised much but often delivered little. Pension advice should always come from regulated advisors, rather than those more concerned with selling what they want to sell.
Beat the Banks are ready and waiting to hear from you. Use our simple online contact form or give us a call on 0800 193 1234 today. We hope to hear from you soon.