Warning Over Parking Space Scam

22/10/2015

Fraudsters are targeting savers with an investment scam involving parking spaces close to airports, the National Fraud Intelligence Bureau warns.

The bureau says consumers are receiving unsolicited calls from “forceful” sales people promoting the parking spaces as a “sound pension investment”.

Consumers are promised a guaranteed high rate of return. A buy-back scheme is also offered but the NFIB says there is no guarantee of an onward sale.

It adds the sales method is very similar to that used by businesses selling unregulated investments including diamonds, wine and carbon credits.

The bureau says investors may receive an initial dividend, but this is likely to be a Ponzi scheme.

The lure of large sums of newly accessible pension money following legislation changes is inevitably attracting unscrupulous fraudsters out to make a quick killing at pension planholders’ expense.

If you would like to discuss pension planning, please contact us >>

Written by Sam Gulley | Financial Planning Consultant

Sam joined Mantle Financial Planning in 2009 having previously been with Alexander Forbes and HSBC bank. Read more >>

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