London-based investment manager Curzon Capital, which lost its FCA permissions in 2018 has finally been declared in default by the Financial Services Compensation Scheme (FSCS).
The firm, which was founded by Christopher Derricott and William Graham, was given FCA permissions to operate unregulated collective investment schemes (UCIS) in 2002. It used those permissions to sponsor an array of alternative investment funds, raising a total of almost £700m (according to Citywire).
The firm had four appointed representatives during its period of operation: Woodbridge Investment Management, Alpha Beta Co Holdings, Sanne Group and Guy Leadbeater.
Citywire reported that 'Curzon Capital launched a Polish residential property fund that raised £15m in eight months. The fund, which was backed by 75 advisers via Sipps and offshore bonds, generated income from buying off-plan apartments in Poland's major cities and renting them to local and international corporations'.
A number of complaints were made to the Financial Ombudsman Service (FOS) between November 2013 and December 2021 with five complaints being upheld.
If you have been advised to transfer your pension into a SIPP and then subsequently advised to invest into a high risk alternative investment then you may be entitled to compensation.
Hallbrook has over 12 years experience helping clients seek more than £60million of compensation when they have lost money from investing into complex investment schemes. Contact a Hallbrook representative today for a free no obligation consultation.