Usin a sipp to invest in cape verde

redux

StephenCo wrote: »

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 ...

Only ask yourself this:

If it is so good, why are the vendors asking you to invest, instead of keeping it a secret and greedily hogging this brilliant opportunity for themselves?

If you want swamps, you might find more in Florida.

kangoora

StephenCo wrote: »

"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?

I'll play along although I'm doubting what you say you are.

If this was a legitimate business opportunity with a good business plan they could go to any number of banks, investment corporations, venture capitalists and get any funding they require.

Of course, all of these, being experienced investors, would insist on seeing detailed business plans with revenue projections, ROI projections, risk assessments, proof of land purchases, licences for operation and all the other legal gubbins that goes with investing potentially 100's of thousands (if not millions) into large scale property development.

There is a reason these firms target small investors and that is because most of them wouldn't be able to determine a legitimate business plan if it bit them on their a**e.

We see so many sorry stories on this site with people losing their life savings on 'investments' ranging from vineyards in Spain, storage units, student pods, holiday lodges, tax-sheltered pensions abroad, palm oil, ethical forestry, even holiday flats etc and the number one thing they all seem to have in common - they were nearly all started by a cold-call advising them to switch their pension

TH1878

Greed and gullibility. A dangerous combination.

atush

DancingBadger wrote: »

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.

Come april this scam wont work on the over 55s as they can access their pensions and spend them if they want.

There will be scammers waiting for that flood of money though. Just will probably be scamming outside of any pension ideas,

alexnic

Pensions connect are now pushing this with a return of 7% minimum....very slick sales patter

dunstonh

That is what happens with a lot of scammers. The change names and legal structures but the outcome is the same.

edinburgher

3. do you know anything about Cape Verde? where it is, the climate (windy!), how undeveloped the tourist industry is, the bad reviews on Tripadvisor. Have you met anyone who has been there?

My parents have been there, they had a good time.

Doesn't mean OP should fall for an obvious scam though!

ex-pat_scot

Colleague has recently sold an apartment there.
Made a HUGE loss.
He's pretty savvy with overseas property and has made a ton everywhere apart from Cape Verde.




... and before you think "oh that's a buying opportunity if prices have crashed" - they are continuing to tank in the locality. He has family there and knows it well.

acc

Cape Verde Pension Scams Apr 16 may be worth reading.

bigfreddiel

I cannot believe anyone falls for cold calls, once in a lifetime opportunities etc, etc

Doesn't anyone use common sense anymore, or read the press?

Well I guess not, but it still amazes me!

Cheers fj