By Steve Conley | Academy of Life Planning
When Paul Birch volunteered to be a “guinea pig” in a class action lawsuit against Friends Provident International (FPI), he may not have expected the resistance he’d face—not from FPI, but from the very trustees entrusted with protecting his pension.
This is the story of a man battling not only a collapsed financial product, but a global network of opaque companies, conflicted trustees, and evasive regulators. It’s a story of missed red flags, unfiled accounts, backdated documents, and offshore ownership entangled with past financial scandals.
🔍 The Setup: The Fraudster, the Trustees, and the Transfer
Paul was advised into a QROPS pension by John Maurice Pye—an adviser now widely acknowledged as a fraudster. His pension was administered by MC Trustees Malta Ltd (MCTML) and its UK counterpart MC Trustees Administration Ltd (MCTAL). These trustees were meant to act in the best interest of scheme members. Instead, Paul uncovered that they acted more like a “letterbox entity”, lacking essential documentation and operating outside the bounds of fiduciary duty.
When Paul attempted to join the Forsters-led class action in the Isle of Man against FPI, he hit an immediate wall: MCTML refused to assign their legal interest in the matter, effectively blocking his ability to be listed as a claimant. Their excuse? Ongoing litigation in a different jurisdiction (Malta).
đź’Ľ The Evidence: Connections to Brite, deVere, and More
Paul’s investigation has exposed a web of ownership linking MCTML to Brite Advisory Group, Nigel Green’s deVere network, and other controversial offshore actors. His recent public letter reveals:
- Brite’s 2019 acquisition of Basi & Basi, a firm with shareholdings in MCTML’s parent company.
- The involvement of Brett Taylor, a former deVere executive now director of MCTML and multiple offshore trustees.
- MCTML’s impending sale to Relay Group Ltd (BVI), whose sole owner Richard Cayne was sanctioned by Japan’s Financial Services Agency for unauthorised investment activities.
This isn’t just corporate coincidence. It’s a pattern: a revolving door of conflicted actors, documented regulatory breaches, and silent transitions in control—while victims like Paul are stonewalled, ignored, or threatened with legal action for daring to persist.
⚖️ The Legal Standoff: Trustee Evasion in Plain Sight
Paul’s correspondence with MCTML and its lawyers is deeply revealing. Repeated attempts to confirm assignment of legal interest, clarify shareholding structures, and engage in litigation have been met with silence, obstruction, or denials of responsibility.
He’s been told to direct communication solely through his lawyer, while simultaneously being ignored even when he complies. When he pushes back with facts and formal notices, he’s accused of harassment.
This is not fiduciary stewardship. This is systematic stonewalling, seemingly designed to limit legal liability and keep a lid on internal conflicts of interest.
đź”— The Regulatory Failure: A No-Objections Letter That Demands Questions
Despite all this, Malta’s regulator—the MFSA—issued a “no objections” letter clearing the sale of MCTML to Relay Group. This is the same Richard Cayne who was subject to a cease-and-desist order in Japan.
Paul’s legal team has now challenged the MFSA’s decision, demanding a full review and retraction of the letter. His request is clear: transparency, due diligence, and accountability.
🚨 The Broader Implications: More Than Just Paul
Paul Birch is not alone. His situation represents a wider community of QROPS victims, many of whom were advised by unlicensed or unqualified advisers, placed into inappropriate investments, and abandoned by the very institutions meant to safeguard their future.
His persistence is exposing the architecture of deception—how offshore pension vehicles are being quietly recycled, sold, or collapsed without consequence, while indemnity insurers, auditors, and regulators remain disturbingly passive.
đź“Ł A Call to Action
Paul’s case should be a rallying cry to every pensioner, every policymaker, and every legal authority still sitting on the sidelines:
- To regulators: Why were red flags ignored?
- To trustees: Why block victims from seeking justice?
- To the media: Why aren’t we asking more questions?
This is not just about recovering one pension. It’s about restoring the integrity of cross-border pensions, protecting the rights of ordinary people, and holding enablers accountable—however far offshore they may be.
đź§Â If you’ve been affected by QROPS mis-selling or want to join the campaign for pension justice, contact Steve Conley at the Academy of Life Planning.
Steve
Together, we can give voice to the victims and expose the structures that hide behind corporate smoke screens.
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The Wall of Silence
Despite repeated disclosures to regulators, professional bodies, and auditors regarding ongoing litigation and evidence of systemic misrepresentation, no meaningful response has been forthcoming. This persistent silence cannot be explained by oversight—it suggests a deliberate avoidance strategy. When victims like Paul Birch provide well-documented, legally grounded challenges to the prevailing narrative, the institutional reflex is not engagement, but evasion. The result is a façade of regulatory diligence that conceals a deeper pattern of complicity, conflict of interest, and reputational self-preservation. This “wall of silence” is not just a failure of communication—it is a failure of duty.