Unregulated Irish pension trustee threatens to foreclose on Dolphin Trust; fallout hits South Korean banks

Unregulated German property scheme Dolphin Trust (now known as German Property Group; for clarity we will continue to use its less unnecessarily generic name) continues to struggle with repayments, according to media reports.

Wealth Options Trustees, an "investment wholesaler" based in Kildare, Ireland, has threatened to foreclose (presumably on behalf of Irish pension investors) in the event of non-payment.

Dolphin Trust's CEO Charles Smethurst has admitted to "short-term cash-flow difficulties" according to WOT.

Dolphin Trust's short-term difficulties started in the latter half of 2018, according to unpaid investors who spoke to the BBC last year.

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Dolphin Trust (now German Property Group) months late in paying investors, says BBC investigation

The BBC’s You and Yours consumer affairs programme reports that multiple investors in Dolphin Trust (known as Generic Property Group, sorry German Property Group, since April 2019) are months late in receiving the repayment of their capital.

According to the investors who allege late payment, the repayment problems appear to have begun in the second half of 2018.

The investors were sold the Dolphin bonds by salesmen who were being paid commission of up to 20%.

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