InvestUS Exit Strategy was a US property investment scheme. It was billed as a “creative solution” to address the class divide created in the wake of 2008’s financial crisis and the mass foreclosures that followed.
The venture involved purchasing repossessed properties in Detroit, Chicago and Florida and renovating them so they could be rented out or sold on.
It was registered in the Seychelles and run by British man Stephen Wright.
According to reports the promotional material aimed to deliver returns of 15% per annum over 3 years.
Some investors reported receiving the initial annual payment, however the payments were seriously delayed when the scheme ran into legal difficulties.
Many people have become invested in high-risk investments like InvestUs through their SIPP, often on the advice of a Financial Adviser.
Before InvestUS Steven Wright co-founded Cherish Wealth Management who became FCA regulated in 2010 through its principal company Shah Wealth Management. Wright left the company in 2011.
Cherish Wealth are known to have recommended several high-risk investments to clients, including InvestUS.
Both Cherish Wealth and Shah Wealth went into liquidation in 2016.
Some clients were introduced to this investment by Avacade, an unregulated introducer company who also had a relationship with Cherish Wealth.
In July 2020 the court ruled in favour of the FCA in a case regarding Avacade’s pension report service. They were accused of making “misleading statements which induced consumers to transfer their pensions into self-invested personal pensions (SIPPs)”
Whilst each case is individual, as mis-selling specialists we know to look for certain signs that in our experience indicate that mis-selling may have happened.
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