In November 2018, it was reported that Intrinsic had been ordered by The Financial Ombudsman to compensate a customer who had been advised by an appointed representative of the ER Network to first of all, transfer her pension into a SIPP and then subsequently, invest in two overseas “ethical plantation schemes,” namely Sustainable Agroenergy Plc (SAE) and Belem Sky Plantation. Sadly, SAE was nothing more than fraud with investors being deliberately misled. The story of land in Cambodia and insured crops of Jatropha trees was sadly no more than a scam.
The Serious Fraud Office became involved and the ringleaders sentenced to a total of 28 years imprisonment. More than 25 victims were robbed of millions of pounds from their pensions and savings. Some even lost their homes.