Store pod salesmen embroiled in £100m pension fraud allegations

Laura Miller
clock

Salesmen selling investments in self-storage units have said they lied and forged documents to persuade investors to part with pensions worth £100m.

The money was invested in buying store pods from Lancashire-based Store First Ltd. Professional Adviser revealed last September that the self-storage industry's own trade body was warning investors about the risks of putting money into store pod investments with Store First, based on what it said were inaccuracies in the scheme's marketing material. The Self Storage Association UK (SSA UK) said it was concerned people may be investing unaware of the potential risks. The Financial Conduct Authority (FCA) issued a consumer alert last January naming store pods among other unregulated ...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

News editor's view: 40s are the new 50s - a move in the right direction? 

News editor's view: 40s are the new 50s - a move in the right direction? 

The news editor's Friday Night Takeaway from 1 May

Isabel Baxter
clock 01 May 2026 • 3 min read
Feel Good Friday: FOS chooses Dementia UK as charity partner

Feel Good Friday: FOS chooses Dementia UK as charity partner

Will support Dementia UK over the next two years

Professional Adviser
clock 01 May 2026 • 1 min read
Why 50:50 parenting doesn't necessarily mean no child maintenance

Why 50:50 parenting doesn't necessarily mean no child maintenance

'In many cases, one parent will meet a greater share of the children’s financial needs'

Clizia Motterle
clock 01 May 2026 • 4 min read