Berkeley Burke loses High Court appeal against FOS decision

Berkeley Burke was fighting a 2014 ombudsman decision in which the FOS ruled the SIPP administrator had to compensate a client after it failed to carry out appropriate due diligence on his investment. In 2011, Wayne Charlton decided to invest his £29,000 pension pot into an unregulated investment. The investment scheme, Sustainable Agro Energy, said it would enable investors to purchase land in Cambodia on which to grow jatropha trees that would be used to create bio fuel. The scheme was later found to be fraudulent.  Berkeley Burke, which facilitated the investment, has persistently ...