BES Sceme 2007/2008

[beekeeper]

I invested in Simple.ie BES 2007/2008 scheme in Dec 2007. At the same time I invested in Davy's BDO BES fund. I have since received 60% back on my Davys fund and zero back on Simple.ie's.

1 out of the 5 business' they invested in have gone into liquidation and I understand that the period in question has been traumatic. I do however feel there is something going on behind the scenes that I, and other investors, dont know about. I am thinking of consulting the financial ombudsman about this.

Has anyone any experience or knowledge of this area ?

Thanks in advance.

 

[Joe_90]

You would need to review the brochure and the advice at the time.

Any scheme where by the Government gives an investor a 41% rebate on their investment has to be considered a risky investment even at the best of times.

1 out of the 5 business' they invested in have gone into liquidation and I understand that the period in question has been traumatic.

20% I would have thought the average closure rate would be higher than that.

Caveat Emptor

 

[Steven Barrett]

I am thinking of consulting the financial ombudsman about this.

Why? Has anything untoward happened? Have you gone through Simple.ie's complaint procedure and not got a satisfactory answer to your complaint?

You can't just make a complaint to the ombudsman because a risky investment didn't come good.

Steven
www.bluewaterfp.ie

 

[Gordon Gekko]

BES / EIIS tends to be Hail Mary stuff...c'est la vie

 

[Ravima]

Agree with SBarrett. just because your investment took a downward dip does not mean you were missold. Did you read any documents before you invested? Start up companies are very high risk.