Green Oil Plantations Limited
In recent times, we at Beat the Banks have dealt with claims relating to a number of investment schemes that promised much and delivered very little. If you have been persuaded to invest your pension or savings into a Self-Invested Personal Pension (SIPP) and then lost money, we’d like to hear from you today via our online contact form or by a phone call to 0800 193 1234.
Green Oil Plantations Limited was another investment scheme that failed to live up to its claims. Potential investors were brought on board, parting with their hard-earned pension pots or perhaps their life savings. They were targeted by unregulated sales specialists who were paid huge commissions in a bid to get as many people in as possible.
The premise was a tempting and somewhat exotic one. Plantations in Australia were to cultivate huge swathes of a species of tree called Millettia – a member of the pea family – and within two years they would be harvested for biofuel, livestock feed and fertiliser. The high yields of oil that were predicted didn’t materialise, leaving investors out of pocket. The company went into administration in 2013.
A high risk gamble that many should never have been asked to take
This was an extremely high-risk investment that really shouldn’t have been aimed at the ordinary investor. More than a thousand men and women signed on the dotted line for the scheme, most of them persuaded by slick marketing material and even slicker sales patters. When an administrator was appointed in 2013, there was an estimated deficit of more than £25 million.
High-risk investments like the Green Oil Plantations scheme should best be left to investors who understand the gamble that’s involved and who can perhaps afford to take a loss should it occur. The fact that ordinary hard-working members of the public were targeted, and subsequently lost almost everything, leaves a rather nasty taste in the mouth.
If you transferred your money via a SIPP into Green Oil Plantations Limited you could be due compensation. Here at Beat the Banks, we are only too happy to discuss the details of your case, and to offer you honest, reliable no-nonsense advice. This was a scheme that left a great deal of upset in its wake, and something needs to be done about it. Call 0800 193 1234 and have a chat with our friendly team. We hope to hear from you soon.