A high risk investment scheme that has taken up to £200m largely from pension investors has had the value of its shares cut to nil.
Elysian Fuels was sold as a scheme investing in renewable energy projects in the UK and the US, including in 2013 the launch of a bioethanol plant in Grimsby. About £200m was invested in the scheme - which was marketed as suitable for experienced investors only, with a minimum investment of £50,000. As much as £180m is believed to have entered via self-invested personal pensions (SIPPs). But investors face heavy losses all after Future Capital Partners (FCP), which sold and marketed the scheme, cut the value of the shares in the scheme from £1 each to zero. 10x returns Tr...
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