Monthly Archives :

January 2019

Prosperity Update 1

Prosperity Update 1 150 150 Adam Reeves

Investors who purchased apartments in the Prosperity tower blocks at Bentley Court and Parkwood Court in Keighley, West Yorkshire are now receiving contracts from the UK law firm leading the recovery action.

In total more than 70 investors have requested contracts.

There are already several culpable parties against whom action can be taken for their roles in facilitating, establishing, promoting, operating or participating in this flawed Prosperity scheme, with at least two further parties still under investigation.

Investors, who have recently been informed of substantial hikes in ground rents (which is a scam in itself) and in service management fees, have now been told that one of the tower blocks needs a complete overhaul of its fire management system in order to comply with the advice of West Yorkshire Fire Services. This is little over one year after they were informed that their apartments were complete, had been fully inspected and signed off by the developer’s appointed firm as meeting specifications. Clearly this latest news casts doubt over the parties who signed off on the apartments.

The more one looks into this investment product the more concerning it becomes. This was not just one rogue company ripping off investors. It appears to have been a conspiracy between a number of organisations to mislead investors.

To read the previous blog on Prosperity click here .

To visit the recently published website for Prosperity investors please click this link. This site will be kept up to date via the blog page.

OurSpace Website

OurSpace Website 150 150 Adam Reeves

The website we established for investors in the collapsed OurSpace workspaces investment is under maintenance and will be back online soon.

This is just to let investors know that OurSpace is still under investigation by Safe Or Scam and we will be continuing our efforts to recover the investments of our investor group.

We are told that the administrator has a number of corporate creditors of OIL but only one individual person. That individual is Kevan Halliwell. None of the individual investors who bought workspaces or dentures or limited partnerships are being recognised as having any rights over the two OurSpace sites in Dubai and Marbella. In our opinion that is an entirely false and scandalous position.

Sadly, we believe this case will drag on for quite a while. Halliwell and his associates will want a quick resolution so that dodgy dealings can be swept under the carpet and they can get away without any charges being levied against them, but we are not going to let that happen. Our investor group is determined to get their money back and we will oppose any effort to dispose of assets that belong to investors and not to OurSpace Investments Ltd or the host of OurSpace subsidiaries.

Central FX

Central FX 150 150 Adam Reeves

Safe Or Scam is providing investigative support to a UK solicitor involved in a case against Central FX, the UK-based currency exchange provider recommended by Bar Works Inc in the USA. Bar Works has been prosecuted and been found to be a Ponzi Scheme run by disgraced serial scammer Renwick Haddow. Renwick Haddow used the false name of Jonathan Black.

Amongst the allegations made against Central FX is the claim that it did not undertake adequate or sufficient due diligence to identify the people involved in Bar works Inc and those who owned, controlled and managed the entities it was dealing with. Renwick Haddow is under arrest in the USA facing fraud charges filed by the FBI which carry a maximum jail term of 40 years. When the FBI have finished with Mr Haddow the SEC have their own charges against him.

There is no allegation that Central FX were a knowing accomplice in the fraud. The case against Central FX is now due to progress to the Financial Ombudsman in the UK. Safe Or Scam is collating the information provided by more than 70 investors in the solicitor’s group and we expect there to be an update direct to the investor group later this month.

Busy Start

Busy Start 150 150 Adam Reeves

The new year is only nine days old and our investigations into dodgy investments are back into full flow.

A low-cost legal action which was started in December against Clear View Marketing Services Ltd / European Property Coin took another step forward this week. We will be able to update investors on that at the end of the month.

The same is true of our action against a company involved in the huge StratXMarkets binary options scam. Lawyers representing the defendants in the claim appeared for the first time today. We think they will struggle to convince a court of their client’s innocence. Our client invested several hundred thousand pounds and they have failed to adequately respond to his claim or to explain their involvement. We think that as a result of our investigations this could easily end up with criminal charges being raised against the perpetrators.

Another conference call is arranged with a UK solicitor representing property owners in the Prosperity site at Bentley Court and Parkwood Court in Keighley. The call will be on 10th January where the solicitor will give an overview of his experience and an outline of the case against the opponents.

We have finally put a proposal to investors in the Essex and London Properties scam. It has taken a long time because of a Police investigation and the involvement of the Official Receiver but both a barrister and a UK solicitor believe there is a viable case against some of the parties involved. Conference calls with the solicitor are being set up so that investors can ask any questions they wish to raise.

The OurSpace Workspaces Ponzi Scheme investigation is going well. The administrator appointed by Kevan Halliwell / OurSpace Investments Ltd (Malta company) remains reluctant to answer straightforward and direct questions. We have had no answers to three emails, the earliest one was sent on 11th December 2018. In our opinion they are administrating a company that does not own the assets which Halliwell claims it does. Halliwell and Douglass tried to stitch up investors by removing the assets from investor control but they messed it up. This one will run for a long time. We asked the administration firm to advise us of their first contact with Kevan Halliwell and OurSpace. We asked if it was in 2017 when the asset transfer was being considered. They have not yet replied.

The Final Letter Before Action was issued to Simon Whittley of St Helier Capital Management Ltd, Win River Developments Ltd, Hawksbill Property Holdings PLC and others. There’s a lot of scams linked to one person. This one is another case in which the defendant has no viable defence. We are looking forward to investors having their day in court with this one. Even his long-term accomplice Simon Paler has been distancing himself from the companies in recent months.

Finally, we have held discussions with professional firms and investors over the action which can be taken against the oil investments run by three men – Martin Finch, Glenn Jamie King and David Alexander Hyman. The oil investment companies are Osage 1 Ltd, Phenco Ltd, Sooner-Energy SPV-1 Ltd, Kansas MB Project Ltd and Kansas B2 Project Ltd. Our investigations are continuing but we believe there is light at the end of the tunnel for investors.

We have probably missed a few off but it has been a very busy start. Our aim is to help ordinary investors recover some of their money from scammers and we are having some success.

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