UK pension scam victims lose £91,000 each
Research shows 253 victims lost more than £23m to pension scams in 2017
Scams
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Cryptocurrency ‘get rich quick’ scams net £2m in two months
Victims lost £10,000 on average in June and July
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UK Insolvency Service shuts down rogue investment scheme
Investors were quoted returns of 10-15% per week or month
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Cold-calling pension company vanishes with millions
An abusive UK pension company that pumped millions into notorious ‘storage’ investments has been shut down by the High Court.
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Massive boiler room scammer gets more UK jail time
A fraudster known as the “Wolf of Wimbledon” has been given an additional four years in prison after failing to pay a more than £7.5m ($9.9m, €8.5m) confiscation order, the Serious Fraud Office has confirmed.
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Pension firm with 15 schemes shuttered by UK court
A group of 15 rip off pension schemes operated by a single company, which duped savers and allowed “unsavoury advisers” to pocket £4m in commissions, have been declared insolvent.
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Stricter rules needed to tackle pension scams
The majority of UK adults want stricter rules put in place to ensure their pension pots are secure, according to research by the Pensions and Lifetime Savings Association (PLSA).
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Pension scammers ordered to repay £13.7m in landmark ruling
Four fraudsters who squandered the pension savings of 245 people have been ordered by the UK High Court to pay back £13.7m ($19.1m, €15.6m), the first time such an order has been obtained.
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FCA shuts down £1.2m Cyprus investment scam
An unregulated Cyprus-based investment scheme has been shut down by the High Court following an application by the UK’s Financial Conduct Authority.
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Aussie advisers banned for Zurich insurance commission scam
In a bid to maximise upfront commission, two Australian financial advisers have been banned from providing financial services for life for falsifying insurance applications on behalf of unsuspecting clients.
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77-year-old adviser gets 10 years for scamming church goers
An elderly investment adviser from Houston, Texas has been sentenced to 10 years in federal prison after being found guilty of cheating more than $5m (£3.75m, €4.2m) from people he met at church.
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New Zealander extradited to face boiler room charges
Authorities in Australia have extradited a New Zealander to face charges that he allegedly defrauded 21 victims, including pensioners, to the tune of A$1.2m (£686,930, $914,550, €772,380).