The Dolphin Trust - SIPP Claims

If you were advised to invest into a high-risk Dolphin Trust SIPP you may be able to claim.

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Mis-leading SIPP Schemes: The Dolphin Trust

The Dolphin Trust, now known as The German Property Group (GPG), is known as an unregulated property investment scheme. It specialises in purchasing listed German buildings in order to refurbish them as luxury apartments. Although it may seem like an attractive investment (GPG) scheme for your pension, it has been estimated that £600 million of pension savings has been lost to this scheme. Not a penny of this money has re-appeared after the scheme has clearly failed on delivering any of its promises.

Below you will find more information on The Dolphin Trust and what you can do if you have been victimiSed by this investment.

 Who are The Dolphin Trust?

The Dolphin Trust was created in 2008 by Charles Smethurst and has attracted up to £900 million in investments from around the world. This is through pension funds created in SIPPs, SSASs (Small Self- Administered Schemes), private sector investment and hedge funds.

Early investors were promised a high return for their investment and were usually repaid precisely. This meant that a lot more people were inclined to re-invest.  For instance, a loan note could offer a return of 10-12% between 2-5 year terms. This could be paid back as income or as a growth option.

However, in recent years, it is clear that The Dolphin Trust has started to encounter a number of problems.

How could I have been mis-sold?

Over the last couple of years, fewer and fewer people have been receiving returns on their investments. The Dolphin Trust claimed that pension owners would not experience any risk because of the safety net of the “First Legal Charge”. This document explained that the investor could claim their money back from the sale of their property if the borrower failed to repay. However, no clients received this investment back.

If you did not receive this investment back, there is a high chance that you have been mis-sold your SIPP pension. However, there are other reasons that you could have been mis-sold, including:

  • You were advised to invest by an unregulated salesman/independent financial advisor who made 20% commission by working for separate companies.
  • The buildings your investment was placed into were nowhere near complete, despite The Dolphin Trust owning the building for more than 5 years.
  • You believe there has been a breach of contract by the borrowers (aka. The Dolphin Trust)
  • You believe you have a negligence claim against your financial advisor for being told to invest in The Dolphin Trust in the first place.
  • You believe that your SIPP Company has breached their duty of care to you (as the investor) by failing to carry SIPP scheme investigations.
  • You were not adequately explained the risks of The Dolphin Trust and feel like you are a victim of bad financial advice.

How much will it cost to claim?

Here at Gowing Law Solicitors, we operate on a no win-no fee basis.  That means you will only need to pay any fees if we win your case. So, no matter the outcome, you will always come out on top. We also offer free advice for anyone who thinks that they have a mis-sold SIPP claim. Feel free to set up a consultation with our specialist SIPP solicitors. Our experts can talk through your case and let you know the risks and potential outcomes.

  • Recent Updates about The Dolphin Trust

    In February 2020, The Dolphin Trust announced to its investors that they were likely to experience huge losses. They had already frozen payments to investors in Ireland, hoping that they would reclaim their money after gaining a buyout approach for the assets of their properties. As this is not working, the UK public have been warned they could become one of the “significant losers.”

  • Will Brexit have an effect on The Dolphin Trust?

    In terms of protecting new investors from this SIPP scheme, yes it could. As The Dolphin Trust is an investment SIPP started in Germany that means the UK’s lack of involvement in the EU could be its own protection. There is no reason for investment securities to be advertised in the UK with the Financial Conduct Authority. This means that there is less chance that The Dolphin Trust will claim more victims.

    Unfortunately, for those that are still invested in the scheme, exiting it could still mean that you experience huge losses. You may not be able to regain your initial pension payments, however you can claim compensation for your losses.

  • How long will my claim take?

    This depends on the complexity of your case. Everyone has a different SIPP claim and we will handle them in a timely manner. Please ensure that we have all of the information needed to proceed with your case. This includes any evidence, contract documents, signed papers or communication information. We will then start our investigation. Please be patient with your expert and they will keep you updated about the latest with your case.

  • Should I wait before I make my claim?

    Most certainly not! If you think that you have a case then you need to get it to Gowing Law Solicitors as quickly as possible. The Dolphin Trust has recently promised that clients will have their investments returned to them. However, they have promised this before. Do not rely on their false promises. Instead, claim now so that you can receive your deserved compensation as quickly as possible.

  • Will I have to go to court or issue court proceedings?

    No, you do not have to go to court if that is what you want. We can handle the case on your behalf.

What should I do next if I have a claim?

If you think you are a victim of a mis-sold SIPP, you need to document as much evidence as you can about the scheme. Note specifics on how the SIPP is performing and the projections you originally received about the risks. You can also collect documentation that proves you were mis-sold a SIPP scheme.

From there, get in contact with Gowing Law Solicitors as quickly as possible. A trained mis-sold SIPP solicitor will see you for a consultation to discuss your case. We can help you get the compensation that you deserve.

Please call 0800 041 8350 or email to hear from a SIPP mis-selling specialist in Manchester today! You can also use our claims form below.

We look forward to hearing from you soon.

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