The Solicitors Regulation Authority has warned investors in the stricken Allansons litigation funding investment scheme that an individual is falsely purporting to represent the SRA as part of a recovery fraud.
Allansons LLP ran a litigation funding scheme offering returns of up to 50% over a 6-18 month term, which third-party introducers claimed was “low risk” and “100% secure”. By September 2018 investors were complaining about the lack of any returns, and in May 2019 the SRA shut Allansons down.
The fraudster, who uses the name “John / Jonathan Holt”, claims to represent the SRA and that investors will get their money back if they hand over 5% of the total invested. Naturally if they hand over their 5% they will never see it again. The individual may be using other aliases.
How “John Holt” obtained the contact details of Allansons investors is unknown.
Also unknown is how Allansons investors’ contact details were also obtained by other unregulated litigation funding investment schemes who have been cold calling them.
Needless to say any approach from someone claiming that you can recover your investment X if you first pay them Y is fraudulent. If it was genuine they would just pay you X minus Y.
Reputable solicitors who actually would charge fees for taking action against a collapsed investment do not cold call, and do not claim to guarantee results.