The Rimondi Grand SIPP investment allowed investors to invest their pension into a hotel resort in Crete by transferring their retirement fund into a Self-Invested Personal Pension.
But not everyone was told that the Rimondi Grand investment was a high-risk scheme, not regulated by the watchdogs at the Financial Conduct Authority.
Nor were some investors assessed properly for their suitability for such a high-risk investment, which has meant that many investors have already claimed for their mis-sold Rimondi Grand investment.
Can you do the same?
Timeline of events: Rimondi Grand
2015 - FOS Upholds Complaint
Way back in 2010, a Mrs H was introduced to the Rimondi Grand Hotel investment, as dealt with Premier Financial Solutions in order to set up the SIPP and investment.
In 2015, the FOS upheld her complaint that PFS did not act accordingly, and PFS were told to compensate her for this high-risk investment.
2017 - Rimondi Grand valued at £1
A letter to clients from a large SIPP provider informed Rimondi Grand investors that due to “material uncertainty affecting this [the] investment”, they considered any Rimondi Grand investment to now be worth £1.
Did you know, we’ve made successful claims relating to Overseas Property before?
If you needed any more reason to choose us to take forward your claim, we’ve seen success in the past with claims against negligent advice.