Investors prepare action against SIPP provider over UCIS

Stadia disputes the claim and argues it undertook due diligence into the scheme "at a far higher level than other SIPP providers". The six investors all invested through Stadia in Armadillo Energy, an oil exploration company which buys oil leases in Oklahoma in the US. They claim they were promised returns of 30% by former adviser John Patrick Robertson, then of firm Global Resource Enterprises, but they say returns have not materialised. The investors, along with two others, are suing Robertson in a separate case on the grounds of professional negligence and breach of the Financia...