UK pension scheme in hot water over investments in failed Jersey biofuel company

May 9, 2017 |

In the UK, pension scheme provider James Hay is in hot water over a Jersey-based biofuels company known as Elysian Fuels after clients invested $70 million in retirement savings between 2011 and 2015, even though they say they didn’t advise clients to make the investment. HM Revenue & Customs is investigating the failed business whose value had been completely written down by 2015. James Hay has also been charged more than $2.3 million in sanctions by the same agency, which the company is appealing.

Category: Fuels

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