Jackson Francis Ltd was a Liverpool based sales company who persuaded more than 1,000 people to move their pensions and invest in Storage Pods.
A BBC expose revealed that Jackson Francis actively cold called people with “dormant pensions” to sell them the Store First investment.
Former salesmen admitted to “forging documents” and “..ticking of boxes on forms, which indicated investors were happy with a high level of risk – when the question had never been asked”
According to the report salespeople for Jackson Francis persuaded investors to part with pensions worth £100m.
Store First owner Toby Whittaker also reportedly paid £33m commission over a 2-year period to Transeuro Worldwide Holdings Ltd, which funded Jackson Francis Ltd.
He denied responsibility for the sales tactics used by Jackson Francis and stated they were not “employed to give financial advice, they are employed to explain the product”
Transeuro Worldwide Holdings Ltd was controlled by former co-director of Store First Midlands Limited – Stephen “Mike” Talbot. Despite not formally being appointed a director of Transeuro, he accepted a 9-year disqualification undertaking in 2018 for failing to explain what happened to millions of pounds worth of assets.
Transeuro Worldwide Holdings Ltd also funded another introducer company called Sycamore Crown Ltd (Sycamore).
The directors of both these companies were disqualified after the Insolvency Service investigated them. In relation to the Henley Retirement Benefit Scheme (HRBS) and Capita Oak Pension Scheme (COPS) they found that…
“… the introducers from both Sycamore and Jackson Francis misled clients about their expertise and experience, offering ‘guaranteed’ returns designed to encourage them to transfer their existing pension funds. As a result, more than £39m was paid into SIPPs, over £10m into COPS and more than £8m to HRBS.”
Both of these schemes mainly invested clients’ money into Store First Ltd.
Jackson Francis entered liquidation in 2017.
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