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The Stirling Mortimer overseas property funds were often mis-sold to SIPP investors, who were not always properly assessed for this high-risk and unregulated investment.
The SFO investigation was closed 6 years later because there was “no prospect of obtaining sufficient evidence to bring charges in this matter”.
Although there were several Stirling Mortimer funds, the ones investigated were:
- Stirling Mortimer Cape Verde 4
- Stirling Mortimer Morocco 6
- Stirling Mortimer Cape Verde 7
Fraud allegations or not, many people were persuaded to invest their retirement funds in this high-risk investment through SIPP pensions, and may still be able to claim.
Can you claim for Stirling Mortimer mis-selling compensation?
Several financial advisers and the FSCS have been paying out compensation for having been mis-sold Stirling Mortimer investments via SIPPs and SSASs for a few years, with Spencer Churchill Claims Advice often leading the claim on a No Win – No Fee* basis.
If you:
- Transferred your pension to a SIPP
- Invested in any Stirling Mortimer fund
- Aren’t earning over £100k per year
- Aren’t a Sophisticated Investor
Then you may have been mis-sold, and you could be able to make a claim for negligent SIPP advice.
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Let’s rewrite your financial story
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
We are here to rewrite the book for you. And luckily we are pretty damn good at creating happy endings.
When you get let down by someone you thought you could trust, it can leave its mark on you, emotionally and physically.
We are committed to transparency and fairness in the way we conduct with clients, including how we charge for our claims services.
What is Stirling Mortimer?
Based in Guernsey, and NOT regulated by the Financial Conduct Authority, Stirling Mortimer operates several investment funds relating to the construction of property abroad.
Sun, sea and sand locations were picked, such as Cape Verde, Spain and Morocco.
Investors could place their money (often through SIPP pensions) into 7 different Stirling Mortimer funds, all offering high returns.
But many of the financial advisers involved mis-sold Stirling Mortimer to their clients, failing to ensure they had the necessary experience to invest in high-risk overseas property funds, and adequate wealth to undertake the risks.
Things got even messier when the SFO launched an investigation in several funds:
- Cape Verde No. 4 Fund (invested in Paradise Beach Cape Verde)
- Morocco No. 6 Fund
- Cape Verde II no. 7 Fund (also invested in Paradise Beach)
Stirling Mortimer timeline of events
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Stirling Mortimer begins
2005
Stirling Mortimer Limited begins life in September 2005 with directors Philip John Bowman and Timothy Michael Clink.Clink was previously a director of Stirling Associates (Cheltenham) Limited (1996 – 2018) which ended in a Creditor’s voluntary liquidation. -
Law firm compensation
2010
Relating to the Stirling Mortimer Global Property Fund, a high-court judge ordered ELS to pay up after it presided over 9.8m Euros which may have been “misappropriated“.
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'6.3m black hole'
2011
In Feb 2011, one headline ran that there was still a 6.3million Euro “Black Hole” in the Stirling Mortimer Global Property Fund, effecting The Cape Verde no. 4 fund.
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Settlement and SFO investigation
2012
In April 2012, Stirling Mortimer agreed an out-of-court settlement over the missing millions.But in December 2012, the Serious Fraud Office opened an investigation into 3 Stirling Mortimer funds. -
Firms in default
2015
January 2015 saw the news that around 24 financial advisers had been found to have given negligent financial advice over Stirling Mortimer, and had since fallen into default with the FSCS.
Over 130 claims had helped bring these advisers to account.
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Lack of evidence
2018
After years of investigation, the SFO dropped their investigation into Stirling Mortimer, citing “no prospect of obtaining sufficient evidence to bring charges in this matter”.
Stirling Mortimer complaints
It would be nice to think that Stirling Mortimer was the ONLY high-risk overseas property scheme to be mis-sold through SIPPs.
Sadly, there are many more, and mis-sold SIPPs are a problem for thousands of pension savers all over the country, many of which are yet to realise they have been mis-sold and may be able to make a claim.
If you invested in Stirling Mortimer, why not take the time to have a free chat with one of our experienced Case Assessors to see if you can make a claim on a No Win – No Fee* basis.
Stirling Mortimer related claims
Stirling Mortimer compensation FAQ’s
How do I know if I was mis-sold a Stirling Mortimer investment?
We’d have to look at your paperwork to make sure, but if you were advised to invest in Stirling Mortimer through a SIPP, but WEREN’T:
- A High Net-Worth Individual earning over £100k per year
- A Sophisticated Investor with a wealth of knowledge
Then you may have been mis-sold.
Investments like these should only be undertaken by people who have the money and knowledge to invest in a high-risk scheme. Financial advisers should know this.
Why are Stirling Mortimer funds high risk?
They are not regulated by the watchdogs at the FCA, as they are based in Guernsey and have assets abroad.
What was the result of the SFO investigation?
Quite anti-climatically, the Serious Fraud Office investigation into Stirling Mortimer which took place between 2012 and 2018, resulted in the charges being dropped due to the unrealistic prospect of obtaining sufficient evidence.
However, over 24 financial advisers have been held to account for negligent pension and investment advice over Stirling Mortimer, with thousands being paid out for many successful claims.
How can I get compensation for a mis-sold Stirling Mortimer investment?
Take a FREE, no-obligation assessment with Spencer Churchill Claims Advice.
We’re specialists at mis-sold pension claims.
If it turns out you do have a claim, you can come onboard as a client.
Do you know how people complained about mis-sold investments and pensions in the last year?
A lot. Over twenty thousand complaints were made about mis-sold pensions and investments in 2020/21, a figure which had doubled since the year before.. It’s no secret how serious this problem is, and it just seems to keep getting worse.
Have you been a victim of financial mis-selling?
Reaching out for help is never easy,
especially if you’ve been misled in the past.
But getting in touch with us won’t commit you to anything. We want to toss you a lifeboat and guide you through the choppy waters of the financial ocean, not leave you struggling to stay afloat. Our experts are here to offer advice and support on financial claims. We know what we’re doing and you can trust that if you’ve got questions, we’ve got answers.
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