Troubled Ethical Forestry investments has once again hit the headlines, this time as a main feature on Radio 4’s “Money Box” segment, this time releasing further detail about the problems faced by over 3000 Ethical Forestry investors.
Within the segment (itself over 10 minutes long), listeners heard from investors as well as the investigative journalist who had been digging around.
Puns about investors not being “out of the woods yet” aside, the show did help to mirror the experience of Ethical Forestry investors, lending one particular investor a podium to speak about how she received all the beautiful glossy brochures you might expect from a high-quality investment opportunity, only to be left in shock since the group’s liquidation in January 2016.
What went wrong with Ethical Forestry?
We still don’t know with any certainty what exactly caused the group’s collapse, but the show did give us a few more snippets of information to add to the every-growing info-board:
- Ethical Forestry directors paid around £10.3m in 2013
- Ethical Forestry directors paid around £3.9m in 2014 – a big drop!
Most investors will now be quite familiar with joint-liquidator Shane Biddlecombe by now, and sure enough his name did pop up over the course of the show to reaffirm the stance that there is a buy-out being discussed and that the trees DO exist and are well looked-after, however with no reasonably time-scale present, the investors we have spoken too recently still feel themselves on shaky ground.
Get Claims Advice and Ethical Forestry
Don’t forget – if you invested in Ethical Forestry as part of a SIPP based on advice from a financial advisor, you may still be able to make a SIPP claim against that advice if we find that it was unsuitable for you.
You can check out your advice for free on our SIPP Claims website with no obligation to continue – it may just save your retirement from going the same way as Ethical Forestry seems to be!Tags: claims Ethical Forestry mis-sold pensions SIPP Claims