Two Estonian women lose savings after following esoteric guru's investment advice

The season finale of the Estonian investigative show 'Pealtnägija' exposes two women who claim to have lost their money after following investment advice from well-known esoteric guru Andero Pebre. The case highlights a loophole in Estonian law that allows virtually anyone to act as a de facto financial advisor.

The final episode of the current season of Estonian investigative television programme Pealtnägija centres on the stories of two women who say they lost significant sums of money after acting on investment advice from Andero Pebre — a figure known in Estonia for his esoteric teachings and claims about extraterrestrial life.

According to the women, they placed trust in Pebre's financial guidance, believing his reputation in spiritual and alternative circles translated into reliable investment knowledge. Both say they were left without the money they had committed, and they are now speaking publicly in hopes of warning others.

A Gap in Financial Regulation

The case draws attention to a broader problem in Estonia's regulatory landscape: there is currently no effective legal barrier preventing individuals without formal qualifications from offering what amounts to financial advisory services. In practice, almost anyone can present themselves as an investment counsellor and attract clients — often from communities built around trust in a charismatic personality.

Experts and consumer advocates have long pointed out that this grey area poses particular risks when the advice-giver commands a devoted following, as is common in wellness, spirituality, or alternative belief communities. Followers may be less likely to question advice from someone they already look up to.

Broader Warning for the Public

The Pealtnägija report serves as a cautionary tale ahead of the summer break, urging viewers to verify the credentials of anyone offering investment guidance — regardless of their public profile or community standing. Authorities recommend checking whether a financial advisor is registered with the Estonian Financial Supervision Authority before entrusting them with any funds.