Steve Wright expressed his intentions in a December 2017 Exit Strategy Update
Exit Strategy – the high risk and FCA-unregulated US housing investment, often sold to UK investors via their SIPP pensions has outlined another “turbulent year” for the investment, placing the majority blame for a range of difficulties on the ongoing effects of the Right Buy Properties saga.
In previous communications from Wright about the InvestUS Exit Strategy, it explained how the investment won a $50 Million judgement against RBP for their “fraudulent” activities with investment assets, which the December 2017 update goes to great length to blame for the current situation.
“It has been almost two years since that judgement and despite having an experienced team in the USA working on this daily, the constant issues caused by RBP continue to hamper significant progress.”
InvestUS Exit Strategy Winding-Up Options
The update, which featured a self-confessed “lack of detail” that was unlikely to “satisfy some investors that understandably just want to see their money back”, also went as far as to respond to calls from some investors to have the company wound up:
“Some investors have asked that the company be wound down and investors to receive some monies back whatever the outcome, so it is my intention to include this option to you when I report with supporting accounting information”.
As the update says, “whatever the outcome”. This is because that with the money spent, it is likely not currently possible to confirm that investors will get ALL of their money back from Exit Strategy.
One thing we know at Spencer Churchill Claims Advice more than some is how InvestUS Exit Strategy was sold to it’s investors, and in many cases, how it was mis-sold.
Always a high-risk investment, it should only have been marketed to High Net Worth Individuals and Sophisticated Investors – but often wasnt, with ordinary “retail” investors transferring their money to a SIPP in order to invest on the sometimes negligent financial advice of firms such as Cherish Wealth Management.
Many have become to successfully claim back for their InvestUS Exit Strategy investments, and if you want to know more about doing so, head over to our dedicated InvestUS information page!
Tags: Cherish Wealth Management Exit Strategy InvestUS Steve Wright