Elysian Fuels Investment Value Drops to Zero

Elysian Fuels, a renewable energy project, attracted up to £180 million from people investing through Self-Invested Personal Pensions (SIPPs). However, the value of these investments has now fallen to zero.

About Elysian Fuels

  • Elysian Fuels promised high returns to investors
  • It was backed by Future Capital Partners
  • But falling oil prices meant the promised returns didn’t happen

Future Capital Partners’ history

  • Future Capital Partners has been involved in controversial film investments
  • It is under investigation for possible tax evasion schemes
  • Celebrity investors have been caught up in previous schemes

High-profile investors affected

Some well-known people invested in Elysian Fuels, including:

  • Stephen Hendry, former snooker world champion
  • Rafael Benitez, ex-Liverpool football club manager
  • Carlo Cudicini, former Chelsea goalkeeper

The wider problem of SIPP mis-selling

  • Many ordinary people have also lost money in Elysian Fuels
  • They were often advised to invest without understanding the risks
  • This is part of a bigger issue of SIPPs being mis-sold
  • In 2015, Harlequin Properties also lost millions of SIPP investors’ money

The FCA is taking action

  • The Financial Conduct Authority (FCA) will investigate advisors
  • It wants to look at cases where high-risk investments were recommended
  • This is good news for investors who relied on bad professional advice
  • If you think you’ve been mis-sold a SIPP, contact our team for help

Summary:

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