UK Financial Ombudsman orders investment advisor compensate investor who lost entire pension in Sustainable AgroEnergy scheme

January 13, 2016 |

In the UK, Financial Ombudsman Service has ordered DeMontfort Wealth Management to compensate a person who invested his entire pension in the Cambodian jatropha project Sustainable AgroEnergy that was later shut down by the Serious Fraud Office in 2012. The investor who lost his pension was sent to DeMontfort for advise on how to invest by Sustainable AgroEnergy after contacting them via their Sustainable AgroEnergy’s website. DeMontfort said it can’t be liable for the investor’s decision but the FOS said because he signed a “terms of engagement” letter that entitled him to full review of the investment that he never received, then the firm was at fault for the loss.

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Category: Fuels

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