What was the Ethical Forestry Limited scam?

Ethical Forestry Limited ran a £70 million scam by convincing people to invest pension funds in non-existent Costa Rican tree plantations.

How did Matthew Pickard, Stephen Greenaway, and Paul Laver commit fraud?

They admitted to fraudulent trading by cold-calling individuals and misrepresenting investments in tree plantations as legitimate.

What happened to the money from the pension scam?

The money was taken from victims' pension pots, with the perpetrators having no actual plans to manage or harvest timber as promised.

Home / Crime and Justice / Pension Pots Plundered in £70m Tree Scam

Pension Pots Plundered in £70m Tree Scam

17 Jan

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Summary

Three men admitted a £70m pension scam.
Ethical Forestry offered fake tree plantation investments.
Scammers took money from victims' pension pots.

Pension Pots Plundered in £70m Tree Scam

Three individuals have pleaded guilty to fraudulent trading in connection with a significant £70 million scheme operated by Ethical Forestry Limited. The company, based in Bournemouth, targeted individuals by offering pension reviews. During these reviews, clients were allegedly advised to withdraw funds from their existing employer schemes and invest them in tree plantations located in Costa Rica.

Investigators have stated that the accused, Matthew Pickard, Stephen Greenaway, and Paul Laver, had no intention of managing or harvesting the timber from these plantations. This admission confirms the fraudulent nature of the investment scheme, which preyed on individuals seeking to access their pension pots.

The scheme leveraged changes allowing early access to pensions, a factor that likely contributed to its success in defrauding numerous people. The company is now defunct, and the guilty pleas mark a significant step towards accountability for the substantial financial losses incurred by victims.