Did you then transfer into a SIPP pension to invest in ABC?
Were you advised that his was a high-risk investment?
Were you assessed for your suitability?
The ABC bonds were always a high risk investment, and while the money was supposed to be used to purchase, renovate and realise properties for profit” and sounded good, now both the UK sides of the investment are in administration.
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Timeline of events: ABC Bonds
2012 - Alpha Business Centres
ABC Alpha Business Centres UK Limited is formed, setup to purchase and renovate property to turn a profit.
Best Asset Management Ltd is listed as a director.
2016 - Best Asset Resigns
Best Asset Management resigns on the 14th July 2016
2017 - Administration
A notice placed in The Gazette states that the firm has entered administration on 20 Jan 2017.
2018 - Progress Report
In August 2018, the administrators released a progress report. It detailed how Best Asset Management Limited ‘were to seek legal advice’ in regards to retrieving funds, and how a criminal case for embezzlement had commenced against Mr Imran Karim (director and shareholder), in Dubai.
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