Usin a sipp to invest in cape verde

dunstonh

I'm not one to normally take cold calls but this came at a time when I was thinking about my pension and my future anyway

You should never act on cold calls. most are scams. This is a scam. The FCA have a warning bulletin telling people not to act on these.

I don't know if I can afford to lose £23000 - can anyone? -

Well, you better be prepared to lose it if you go through with the scam.

but losing the prospect of living off £500 per year, which seems to be where this particular pension pot is taking me, doesn't sound quite as scary.

£23k does not equate to £500 a year. Dont play it down. You said you dont know if you can afford to lose £23,000 in one sentence and then you say you dont mind in the next.

But please don't rush to judgement..

We havent rushed to judgement. This company is known to this forum. This company is known to me and I also know a lot more than I can post here.

atush

And I do have other pension arrangements, I am a bit of a hedger. I don't know if I can afford to lose £23000 - can anyone? - but losing the prospect of living off £500 per year, which seems to be where this particular pension pot is taking me, doesn't sound quite as scary. £500 to £0 per year isn't that big a drop. Perhaps this particular investment isn't right, but this is the kind of thing I want my pension to be doing.

You are right you do have a problem with your pension. The problem is, it is too s mall because you put too little in it.

the only real way to fix it is, to put more into your pension. You have a choice, save hard to get the rewards, or fritter this pension away completely by taking up this scam. Because I guarantee you, you wont see that 23K again.

StephenCo_2

Seeing as you are all focusing on me and my judgement rather than why no-one else has stuck their head over the parapet to share their experience (and I'm starting to see why not...) how about some more detail for this stupid gullible newbie fairy-tale character?

"It's a scam because it is a cold call" - ok, scammers use cold calling, they also have noses and speak English. I should not trust anyone with a nose? If I had a genuine investment opportunity I wanted to share with people who had money to invest in it, but I was banned from actually contacting anyone, how would I get any investment? Or let's flip it around, where are all these genuine, decent investments that don't use cold-calling, where do I find them? Up the beanstalk?

Where is the flaw in the model? I told you what they told me, you're all super-smart people unlike me, so sell me the flaw. What exactly will happen to the investment? It doesn't make as much money as they said? well neither did my current pension. Who are the fraudsters who will run off with my money, is it Bespoke? The Resort Group? Metro Bank? Are Melia ripping investors off by demanding 50% to manage the resorts? Or am I just going to get taxed to the hilt by HMRC?

Please, stop trying to just scare me and give me (and others who will inevitably find this thread if they pump these names into Google) some useful information. If it is a flawed model you should be able to explain why very simply. I can then take this up with the Choices Wealth guy.

Or you can just keep slagging me off instead if that entertains you, it won't achieve anything but at least the guy who is trying to scam me was polite.

puk999

The scammers are necessarily polite as they're attempting to fill their pockets with £23k of your money.

When your money has vapourised the mechanics of how they did it will be academic, but the penultimate paragraph of the fourth post in this thread has some ideas:

It's pretty easy to guarantee (and even to deliver) a high return for the first few years. It's a very good way to persuade investors to invest even more. Simply put a proportion of the investment in the bank and pay it back to the investor over a few years. The rest can be spent on any hairbrained scheme they can think of, or siphoned off in consultancy, legal, accountancy, or architects fees to their friends until their's nothing left.

le_loup

You're not trying to push this "investment" by any chance?
Are you are one of the scammers?
I ask purely for information .... as a wit once asked!

dunstonh

how about some more detail for this stupid gullible newbie fairy-tale character?

I cannot go into any further detail. People in financial services will know why that is the case and what happens after an FC report is made.

you're all super-smart people unlike me, so sell me the flaw.

We have and you are ignoring it.

It doesn't make as much money as they said? well neither did my current pension.

Rubbish

Or you can just keep slagging me off instead if that entertains you, it won't achieve anything but at least the guy who is trying to scam me was polite.

Its not slagging you off. Its a scam and you are falling for it.

1 - is the company regulated? - no
2 - has the company lied to you? - yes
3 - Is the company authorised to do what it is doing within the law? - no
4 - have the company complied with regulations on pension switches? - no
5 - does the regulator warn you of these cold calling free pension reviews? - yes
6 - are you ignoring all this? - appears so.

nubbins

My 3 year old just read this thread and his first words were scam. I've just found a pic of the Choices Wealth and it don't look good i'm afraid...

DancingBadger

I do find it odd that StephenCo only joined MSE today, and that his first three lengthy posts are essentially requests (some would say demands) for reasons why he shouldn't invest in what is very obviously a scam.

I'm sure he'll forgive me for thinking he's a scammer hoping someone will supply him with the counter-arguments he needs to reel in all those prospective victims wondering what to do with their new-found wealth come April this year.

mgdavid

StephenCo wrote: »

Seeing as you are all focusing on me and my judgement rather than why no-one else has stuck their head over the parapet to share their experience (and I'm starting to see why not...) how about some more detail for this stupid gullible newbie fairy-tale character?

"It's a scam because it is a cold call" - ok, scammers use cold calling, they also have noses and speak English. I should not trust anyone with a nose? If I had a genuine investment opportunity I wanted to share with people who had money to invest in it, but I was banned from actually contacting anyone, how would I get any investment? Or let's flip it around, where are all these genuine, decent investments that don't use cold-calling, where do I find them? Up the beanstalk?

Where is the flaw in the model? I told you what they told me, you're all super-smart people unlike me, so sell me the flaw. What exactly will happen to the investment? It doesn't make as much money as they said? well neither did my current pension. Who are the fraudsters who will run off with my money, is it Bespoke? The Resort Group? Metro Bank? Are Melia ripping investors off by demanding 50% to manage the resorts? Or am I just going to get taxed to the hilt by HMRC?

Please, stop trying to just scare me and give me (and others who will inevitably find this thread if they pump these names into Google) some useful information. If it is a flawed model you should be able to explain why very simply. I can then take this up with the Choices Wealth guy.

Or you can just keep slagging me off instead if that entertains you, it won't achieve anything but at least the guy who is trying to scam me was polite.

Either:
you are not listening or reading
Or:
you are a troll or a scammer.
Ends.

enator

Just a dim witted Shill who has shot himself in the foot - hopefully Google will send people here to see through the scam.

I love the nose analogy though

My scammer has got no nose

Really, how does he smell??

Terrible...

I'm here all week........