Ginger GM hits the headlines for 5 million pound pensions scam

polecateddy

Simon Williams AKA Ginger GM hit the headlines on the 20th July in the UK, when he made the front page of the Times Newspaper for running a 5 million pound pensions scam alongside IM Gary Quillan;

https://www.thetimes.co.uk/article/pension-investigation-complex-deals-are-designed-to-liberate-cash-6tpw3bf6s

potato08

wow

novacek

I cannot see the full article but I'm very intrigued. Could you send me more info? or post it here?

polecateddy

There’s a print of the article and plenty of discussion in relation to these ‘rogue traders’ here; https://www.ecforum.org.uk/viewtopic.php?f=2&t=10323

neveraskmeforadraw

Who would have thought that Gingergm would be capable of something like this. This will most certainly affect his credibility in the chess world, in a negative way.

polecateddy

I think he’s currently burying his head in the ground and pretending it didn’t happen 😀 But the truth is although Simon Williams doesn’t appear to be currently charged with criminal offences, there are a lot of innocent victims in the UK who have lost thousands of pounds, and a lot of them were already in financial difficulties to begin with. 

BonTheCat

Is ignorance a valid defence under British law? In any event, I actually strongly doubt Williams' good faith. I have a pension fund from a UK provider and for years I've received with my yearly pension statement an information insert with the admonition to beware of fraudsters. The information sheet points out that all pension plans from UK providers are locked until the holder reaches the age of 55, and that anyone who says that you can access your plan before that date is deceiving you.

 

dfgh123
BonTheCat wrote:

Is ignorance a valid defence under British law? 

Depends on your social classification or simply if they just like chess.

jeroen_n75

Any of the chess.com staff members busy verifying this news? @peterdoggers

NikolaiSpongnikov
I’m telling you man, you can’t trust gingers!
GrandPatzerDave
NikolaiSpongnikov wrote:
I’m telling you man, you can’t trust gingers!

...but you can always trust Mary Ann!

magictwanger

I really hope he is not involved in anything criminal.Love his streams and You-Tube stuff and I find him an engaging fellow.....Good luck Ginger.

TheWhiteFianchetto

I know a Guy...

inmaniac

I love the GingerGM.  He is my favorite commentator.  I choose to believe that what he said in the article is the truth.  He says he operated in good faith.  He didn't know this was a scheme.  I really hope he pulls through this and come outs OK.  I also hope the poor people who lost money are OK as well.  Its particularly evil that a company would try to cheat people over the age of 50 out of their ability to take care of themselves properly past the age of being able to work.  That is just terrible.  But I feel like the GingerGM didn't know of that part of this and is a good guy.

(But I don't know him personally.  I'm just saying this based on being a huge fan.  happy.png )

forked_again

Williams was the man in charge.  The business was named after him.  Ignorance seems highly unlikely.  Yet I wonder why  no charges yet.

forked_again

More breaking news on GM Simon Williams;

The financial scam of which Williams was accused was apparently all a misunderstanding.  His clients got the incorrect impression that they would not be charged for the services of Mr Williams.  When asked about the cost to his clients, he responded, "free", meaning free hundred pounds per hour.  

wink.png

MustangMate

The investigation is still searching for the right sized nail. Coffins come in all sizes and shapes.

forked_again
forked_again wrote:

More breaking news on GM Simon Williams;

The financial scam of which Williams was accused was apparently all a misunderstanding.  His clients got the incorrect impression that they would not be charged for the services of Mr Williams.  When asked about the cost to his clients, he responded, "free", meaning free hundred pounds per hour.  

 

You mthrfxers aren't even laughing at my hilarious post??? What kind of lame@$$ group of chess nerds do we have here? I swear you don't deserve an awesome member like me!  I go through all the effort to be a barrel of laughs and what do I get?  Sheesh! 

DamonevicSmithlov

It was funny. He does say free when he attempts to say three doesn't he?

forked_again
DamonevicSmithlov wrote:

It was funny. He does say free when he attempts to say three doesn't he?

Yeaaaaay ha ha ha ha you got it!  A trophy for you sir!!!