Los Pandos was promoted as a sustainable investment with generous returns for investors. Involving 830 hectares of land located between Alicante and Valencia which included a vineyard. There were also plans to develop the rest of the land into an Eco-village with leisure facilities and other “Nodes of Interest” It was based in Spain and the directors of the project were Mike Clews and Eduardo Martin.
However, the investment hit problems and people have not seen the returns they were promised.
This type of investment is not authorised by the FCA which also means there’s no protection or access to compensation schemes such as the FOS or FSCS should things go wrong.
It’s also high-risk and illiquid and usually considered a suitable investment choice for investors classed as high net worth or sophisticated. Basically, someone with knowledge, experience and money they can afford to lose should the value go down.
However, many people who weren’t suitable ended up invested in Los Pandos as part of their SIPP.
A lot of investment mis-selling happens as a result of unsuitable pension advice or failings in due diligence on the part of the SIPP provider regarding the investment.
In many mis-selling cases the story begins with an Introducer company using techniques like “Free Pension Reviews” as a cover to promote high-risk investments.
They can do this because they are not regulated and don’t have to worry about breaking the rules which prohibits this kind of investment being marketed to just anyone.
They then pass the client on to an adviser or SIPP provider. Most are paid commission by the investment company.
That all depends on how you were invested, the parties involved with making the investment happen and your personal circumstances. It’s always worth checking out, especially if you transferred your pension.
If you are worried you may have been affected by investment mis-selling – we may be able to help.
We offer a free initial assessment to see if you may have been mis-sold. It’s simply a brief chat with one of our trained assessors.
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.
Our assessment is free and there’s absolutely no obligation to use our service if you have case.
You are not required to use our services to pursue your claim. You can also seek further advice or shop around subject to any time limits within which a claim must be made.
It is possible for you to present the claim for free, either to the firm or person against whom you wish to complain or to the statutory ombudsman (Financial Ombudsman Service or Pension Ombudsman Service) or the Financial Services Compensation Scheme, whichever is applicable to your claim.