Ethical Forestry & Teak Plantation Investments
The Ethical Forestry Scheme was yet another ‘Green’ investment that encouraged over 3,000 environmentally aware investors to transfer their existing pensions into this long-term ‘ethical’ scheme - boasting returns of up to an incredible 4,000% over 20 years.
The Costa Rican tree plantation is thought to have had over £50 million invested in it, however, since the UK investment firm collapsed (while funding multi-million pound dividends for its Directors) it has left investors with no idea where their investment has gone, or whether it will ever be recoverable.
One Self Invested Personal Pension (SIPP) provider, Liberty SIPP, is currently valuing the investment at book value, meaning the amount the investor originally paid. There are others, however, who value the scheme at £0 - meaning customers’ investments are effectively worth nothing.
Similar risky ‘Green’ Investment schemes, Para Sky Plantation and Belem Sky teak Plantation in Brazil, were marketed by Global Forestry Investments (GFI), who is currently subject to investigation by the Serious Fraud Office (SFO).
Experts believe that up to £20 million of investors hard earned money could have been lost. One company responsible for the marketing of Teak Plantations was Emerald Knight, who made promises of a “fixed 10% annual return", with a return of “10-20% at thinning years” (every 8 years) which for most, never came true.
If you were advised to invest in Ethical Forestry, we can help. Contact DRSP today on 0800 849 5078 and we’ll be happy to help.