We represented a 56 year old lady from East Sussex who was cold called in 2013. The caller offered a free pension review. Our client was contacted by Dean Smith from My IFA Friend Limited. Dean Smith suggested our client should transfer her various pensions with Legal & General to a SIPP with Greyfriars and “invest” in Manchester Terminal 2 Hotel Limited.
The advisor assisted our client in opening a SIPP with Greyfriars and arranged for the transfer of all monies from the Legal & General Pensions to the SIPP. In total the sum of £92,343.82 was transferred from the various pensions with Legal & General to the Greyfriars SIPP. Thereafter an “investment” was made on 6 November 2013 in Manchester Terminal 2 Hotel Limited B Bonds in the sum of £86,000.00.
We represented our client in connection with a claim for compensation and recovered the sum of £50,000.00 on her behalf.
If any person has invested any monies in Manchester Terminal 2 Hotel Limited whether through a SIPP or otherwise we would urge them to contact us without delay as compensation may be payable.