By Steve Conley
Founder, Academy of Life Planning | Advocate for Financial Justice
Across the Isle of Man and Malta, a disturbing pattern has emerged—one that undermines public trust, discredits regulatory systems, and leaves thousands of victims in the wake of financial devastation. The pattern is this: credible, corroborated claims of financial crime are being systematically ignored by institutions tasked with protecting consumers and upholding the rule of law.
This is not due to lack of evidence. Victims and investigators have supplied detailed documentation, spanning multiple years, jurisdictions, and regulatory bodies. These include email trails, legal correspondence, and financial records pointing to a clear web of fraud, money laundering, tax evasion, and regulatory collusion—enabled by licensed entities operating within both the Isle of Man and Malta.
What we are witnessing is not failure. It is wilful institutional refusal to engage.
The Anatomy of Refusal
Over a five-year period, victims of pension scams and their representatives have submitted hundreds of emails to the Isle of Man Constabulary, the Attorney General’s Chambers, the Financial Services Authority, and their counterparts in Malta. Their allegations have centred around regulated insurers and trustees who granted Terms of Business to unlicensed and offshore advisers, resulting in the siphoning of millions from retirement savings into toxic investments and fraudulent schemes.
Despite this, police units such as the Isle of Man Economic Crime Unit (ECU), backed by supposed “independent” legal advice, have consistently declined to investigate. In one prominent case, Tim Green KC, who had previously acted as Attorney General for the Isle of Man, was contracted to review complaints. Victims emailed Green’s chambers 39 times—some directly addressed to him—without receiving a single response.
The result? A blanket conclusion that “no criminality can be established,” despite:
- Verified payments from regulated insurers to fraudulent advisers’ bank accounts in Douglas
- Trustees in Malta licensing those same advisers under multiple shell entities
- Victims showing losses into the hundreds of thousands from failed and illegal investment structures, including those implicated in the Axiom Legal Financing Fund fraud, where convictions have already been secured in the UK.
Silence from the Top
At every level—regulators, police, ombudsmen, and legal officers—victims have encountered a wall of silence. No meaningful steps have been taken to:
- Forensically examine transaction records
- Seek cross-border enforcement assistance
- Prosecute firms or individuals involved in clear breaches of AML law
Even worse, the same public officials who refuse to act are those who authorised the external legal advice used to justify that inaction. This includes Walter Wannenburgh, the former Isle of Man Solicitor General, who approved funding for Green’s report—later relied upon by the ECU to shut down any investigation.
Echoes of Hillsborough and the Post Office Scandal
There is a tragic parallel here. Much like the Hillsborough disaster and the Post Office Horizon scandal, the burden of proof is falling entirely on the victims to uncover the truth. They are being stonewalled, redirected, and gaslit by institutions that exist to protect them.
And yet, the evidence keeps coming. Every ignored email. Every silent chamber. Every “no further action” notice. Together, they form a damning indictment—not just of specific companies or advisers, but of entire regulatory ecosystems that protect reputation over justice.
What’s at Stake
These aren’t just administrative failings. They are life-altering injustices. Victims have lost not only their pensions but also their homes, health, and dignity. Some have died waiting for justice.
The damage is twofold:
- To individuals – whose financial futures have been stolen.
- To society – as financial centres like the Isle of Man and Malta risk becoming synonymous with impunity and white-collar crime.
The Call to Action
It is no longer acceptable for regulatory bodies and law enforcement to hide behind “insufficient evidence” when so much credible, documented, and consistent testimony exists.
We call for:
- A full independent inquiry into the role of IoM and Maltese institutions in facilitating pension and investment fraud.
- The publication of Tim Green KC’s legal opinion used to block criminal investigations.
- Cross-jurisdictional cooperation involving the UK SFO, HMRC, FATF, and EU AML authorities.
- Compensation frameworks for victims, following the precedent set by the Post Office scandal.
This is not just a story of fraud. It is a story of systemic failure, cover-up, and the quiet complicity of those in power. And it must end.
“Justice Delayed is Justice Denied”
History has shown us that the truth eventually emerges. But how many more lives must be destroyed before it does?
To all victims still fighting: you are not alone. We will keep speaking, keep exposing, and keep building the case until silence is no longer an option.
Because silence in the face of wrongdoing is not neutrality—it is complicity.
About Get SAFE
Get SAFE (Support After Financial Exploitation) was born from a simple truth: too many victims of financial abuse are left to suffer in silence.
We exist in memory of Ian Davis—for the ones who did everything right, only to be failed by the systems they trusted. We know that behind every vanished pension, every ignored complaint, and every stonewalled letter is a person—frightened, exhausted, and too often alone.
Get SAFE offers more than sympathy. We offer structure, support, and solidarity.
We provide a voice where there’s been silence, and clarity where there’s been confusion.
We stand beside those who have been exploited, not just to help them recover—but to help them reclaim their story and rebuild their future.
Because financial justice is not a luxury.
It’s a human right.
If you or someone you know has been affected by financial exploitation, we are here.
You are not alone.
Learn more at: Get SAFE (Support After Financial Exploitation).
Academy of Life Planning 