You may be entitled to compensation if one of the investments made by your pension has been into Alpha Business Centres (ABC) Bonds.
These financial products were initially introduced by Best International Group (BIG) and before then were being widely marketed by unregulated introducers and financial advisers. They were often responsible for arranging pension transfers into a self-invested personal pension (SIPP) like Options UK (previously known as Carey Pensions) or Greyfriars.
Bond Investments That Failed
It was promised that the bonds which were invested in various office centers around the world, including in Dubai, were ‘asset backed’, meaning that should anything go wrong with them, there was money available to refund individual investors.
Based on this promise, around 1,000 individuals invested in excess of £34 million into ABC Bonds, with single investments ranging anywhere from £10,000 to as much as £200,000. The bonds were structured as companies and they fell into administration back in the early part of 2017.
The directors of the bonds are Bradley James Lincoln, Mohammed Abbas Yusuf, and Jeffrey Roger Hankin – these are all names that are associated with other previously failed bond investments.
Advice For Pensions Claims
You should immediately get advice and speak to a specialist pension expert if you have invested in ABC Bonds via a pension.
Call us now for a phone or video consultation with one of our legal experts on 0800 041 8358 to find out if you are entitled to compensation, you may even be entitled to additional compensation if you have successfully claimed in the past.
