Carey Pensions accused of being 'in bed with scammers' during SIPP trial

Client was warned of risk

Hannah Godfrey
clock • 2 min read

Self-invested personal pension (SIPP) administrator Carey Pensions has been accused of being "in bed" with scammers during an ongoing trial brought against the firm by a customer.

Lorry driver Russell Adams has alleged SIPP administrator Carey Pensions mis-sold him a SIPP. He and his lawyers have accused Carey Pensions of using a Spain-based unregulated introducer to facilitate investments in Store First unit pods. Speaking at the High Court in central London on Thursday, Adams' legal representatives accused the SIPP administrator of being "in bed" with pension scammers. They said the unregulated introducer possessed the hallmarks of a scammer, including asking for upfront payments and encouraging individuals to liberate their pensions into riskier investments,...

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