A recent article has revealed a large scale investigation has been launched into an Ipswich based will writing and inheritance tax planning firm Universal Wealth Management, after they went into compulsory liquidation in May. Read the article here
The Eastern Region Specialist Operations Unit (ERSOU), which tackles serious organised crime, says more than over 100 reports of possible fraudulent activity have been received in relation to Universal Wealth Management and other associated companies and two people connected to the firm have been arrested. The investigation was initially being undertaken by Suffolk Constabulary before being passed to ERSOU due to the size of the investigation.
The firm ran seminars around the country called ‘Keep it in the family’ promising to protect people’s assets from inheritance tax and protect against care home fees. After attending seminars, many people placed their home into a trust run by the company. In practice, such arrangements tend to fall foul of local authority rules in any event. Many previous clients are now understandably concerned about their assets.
Action Fraud, the national body dealing with victims of fraud, have received over 140 reports from previous clients of Universal Wealth Management concerned about missing money. Anyone with information or who wishes to report a concern is asked to contact Action Fraud on 0300 123 2040 or via the Action Fraud website.