Hornbuckle Mitchell has won a case against an investor who claimed their due-diligence lost him £300,000 when esoteric investments held in his SIPP went wrong.
Julian Holy invested in unregulated property related SIPP investments recommended by his IFA, Bentley Leek Financial Management Ltd (BLFM). He invested in Bentley Leek Properties in June 2007 and September 2009, which offered clients the opportunity to invest in residential UK property developments. In August 2007, Holy also invested in Dubailand Development Ltd, an overseas properties development managed by a Mauritian company. The investments failed due to alleged issues of financial mismanagement from BLFM directors, M Bentley-Leek and M Dervish. Holy had invested prior to the a...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
