June 2019 - Safe or Scam

Adam Reeves
June 27, 2019
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Seabrook and Hythe Property Management Ltd

Seabrook and Hythe Property Management Ltd https://safeorscam.net/wp-content/uploads/eg-image-5.jpg 2000 1333 Adam Reeves Adam Reeves https://secure.gravatar.com/avatar/02d799d887d9138b874a845dd420ddcb?s=96&d=mm&r=g June 27, 2019 August 5, 2019

Seabrook & Hythe Property Management Ltd was dissolved on 25th June 2019. It was a company associated with the family of Matthew Cullum of MCI Management / TSM Corporate Services Ltd fame. See previous blog HERE.

At the request of a client we are asking any unpaid creditors of this company to contact us.

Adam Reeves
June 27, 2019
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MCI Sales Ltd

MCI Sales Ltd https://safeorscam.net/wp-content/uploads/canstockphoto22024030-e1572630498564.jpg 450 676 Adam Reeves Adam Reeves https://secure.gravatar.com/avatar/02d799d887d9138b874a845dd420ddcb?s=96&d=mm&r=g June 27, 2019 December 30, 2019

During May and June, Safe Or Scam successfully recovered money for two clients who invested with MCI Sales Ltd, now renamed as TSM Corporate Services Ltd (“TSM”).

MCI Sales, also known as MCI Developments, MCI Corporate and MCI Management, changed its name to TSM Corporate Services Ltd in August 2017. It may have been driven by the portfolio of scam investments it had been selling to ordinary members of the public and the resulting bad reviews linked to its name. The key people involved in TSM are Matthew Cullum, the company director, alongside his right-hand man Thomas Scotland. They live in Deal and Folkestone areas. We have the home addresses.

Recognising their involvement in multiple scams was likely to damage their ability to attract new clients, and already having a database of investors built up over many years, Matthew Cullum and sidekick decided it was time to establish their own investment proposition. They did so under the branding of ‘South East Property’. Their offer to investors was a short-term bond, typically two years, paying a high interest rate. Contracts were originally in the name of MCI Sales Ltd and more recently TSM Corporate Services Ltd.

Unfortunately, investors often didn’t receive the promised interest payments. When they chased up the payments they were met with delaying tactics. When it came time to repay the capital Cullum and Scotland stopped responding to investor emails. They just didn’t pay. TSM Corporate Services are still selling their bonds.

Investors contacted Safe Or Scam with their concerns. We have successfully recovered the full investment + interest + costs + our fees for two investors and are now involved in the funds recovery process for a third investor. If you are an investor who took out a bond with MCI Sales Ltd or TSM Corporate Services Ltd and you have been experiencing interest or capital repayment difficulties, please contact us. We may be able to help.

To view a more recent article on this subject please click here.

Adam Reeves
June 8, 2019
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Wellington Capital Group

Wellington Capital Group https://safeorscam.net/wp-content/uploads/canstockphoto40337671-e1581878084460.jpg 300 233 Adam Reeves Adam Reeves https://secure.gravatar.com/avatar/02d799d887d9138b874a845dd420ddcb?s=96&d=mm&r=g June 8, 2019 August 28, 2019

Wellington Capital Group is a scam organisation focused mainly on investors in the Far East. The company claims to offer “comprehensive wealth management for clients seeking exceptional service and returns” by introducing investors to share purchase opportunities in what it claims are high growth companies. Unfortunately this is a long way from the truth. The company steals the money and does not buy any shares.

Wellington Capital Group (“WCG”) falsifies the share purchase. No shares are ever bought and no share certificates are ever issued. In most cases investors are given only the most basic details of the fake shares so that they cannot make their own enquiries.

WCG purports to operate from premises in Tokyo and Seoul. Visitors to the office premises in both cities will find that they are home to thousands of companies just using the address to give an appearance of being located in major business centres. The truth is that WCG is not there.

The WCG website states: “Risk Management is a cornerstone of Wellington Capital Group and has been since our inception. Our company is employee owned and managed, and everyone has a vested interest in protecting our firm, our reputation, and most importantly, our clients. The foundation of effective risk management is having formal internal controls. We have a dedicated Risk Management Committee that regularly reviews individual portfolio construction, trading patterns, internal compliance and information technology and security. The head of the Risk Management Committee reports weekly to Senior Management and we have systems in place to attend to any issues and concerns that arise from both the Committee and any and all members of our staff. relationships and protecting our clients’ assets and privacy with thorough risk management and security.”

That sounds very professional. Let’s break those statements down. “Risk Management is a cornerstone of Wellington Capital Group and has been since our inception…….”. So when was their inception ? Well, it’s quite difficult to say because nowhere on their website or on any of their letters, emails or banking information does it actually give any details of the company.

It is a legal requirement for a company to give details of its incorporation status, but with WCG all you get is ‘Wellington Capital Group’. They never say whether they are ‘Ltd’ or ‘Inc’ or ‘LLC’. Perhaps that should be the first piece of information an investor should ask i.e “What is your legal status ? Please provide a copy of your incorporation documents.”

We researched the global database of companies called Wellington Capital Group and couldn’t find any located in Japan or South Korea.

A clue to their true inception date can be found via their website. Their website domain name was purchased on 25^th April 2017. It was purchased anonymously and whoever bought it paid for privacy settings so that nobody can find out who actually owns and operates the website. However, the date of registration cannot be hidden so it would appear that the people perpetrating this fraud started it around two years ago.

As is usual with scam companies they often publish fake testimonials to make it look like they have been established for a long time and have happy customers. WCG is no exception. They have a fake testimonial from someone they call Jacques. Jacques says “We’ve been working with Wellington Capital Group for almost ten years now and are confident to recommend them.” Clearly that is a lie.

WCG makes the statement: “We have a dedicated Risk Management Committee that regularly reviews individual portfolio construction, trading patterns, internal compliance and information technology and security. The head of the Risk Management Committee reports weekly to Senior Management and we have systems in place to attend to any issues and concerns that arise……”

If WCG was really a company large enough to have a Risk Management Committee and Senior Management it would have the names of the key directors and officers on the website. WCG provides no information at all on who they are. However, on the ‘Our Clients’ page they have an image of a trustworthy and professional looking man. He is alongside text explaining how important their clients are to the company. Investors are encouraged to believe that this is a photograph of the CEO of the company. They would be wrong.

This is a stock photograph available from media websites free of charge. This man’s photograph can be found on a number of websites. He is the face of a man called Thomson at the Gold and ARE Review website http://goldpandareview.com/gold-ira-rules/

He can also apparently fix your car if it breaks down because he is ‘John T’ of ET’s Auto Service https://www.yelp.com/biz/ets-auto-service-berea and, if you are looking for news on prostrate cancer, you will find him in a more relaxed mode at http://oncologynews.com.au/prostate-cancer-patients-more-likely-to-die-of-other-diseases-say-15-year-plco-results/

The main salespeople at Wellington Capital Group all have English as their main language and speak with clear English accents. They are using false names.

DO NOT BE FOOLED BY WELLINGTON CAPITAL GROUP – THEY ARE A SCAM COMPANY AND THEY WILL STEAL ANY MONEY YOU GIVE TO THEM.

If you have any information on Wellington Capital Group please contact us. We have established a separate website on this group and another share scam called Financial Plus. It can be visited using this LINK.

Adam Reeves
June 4, 2019
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Access Corporate – May 2019

Access Corporate – May 2019 https://safeorscam.net/wp-content/uploads/eg-image-4-e1578505615888.jpg 400 267 Adam Reeves Adam Reeves https://secure.gravatar.com/avatar/02d799d887d9138b874a845dd420ddcb?s=96&d=mm&r=g June 4, 2019 August 23, 2019

Access Corporate Ltd was a money mule company used by the binary option fraud which operated under the name of StratXMarkets.

SOS was able to trace some of the payments made by a client to a Metro Bank account which we believed was owned by Access Corporate Ltd. We challenged the company over its relationship with StratXMarkets and were not happy with the response we received. We then assisted a client in taking remedial action through the UK court process.

On 22^nd May 2019 a Judge at the High Court in London issued an order to wind up Access Corporate Ltd. The case was brought by a Safe Or Scam client who had lost a considerable sum of money in the StratXMarkets scam.

There will now be an investigation into the company by the Official Receiver or by an insolvency practitioner appointed by the Official Receiver.

The company director, Mr Derrick Williams, had tried to avoid an investigation by placing Access Corporate Ltd into a company voluntary liquidation before the hearing. If creditors do not act quickly when a CVL is initiated it gives directors an opportunity to push through a very quick liquidation with no investigation. Mr Williams had already appointed his own preferred liquidation firm and had provided it with a list of creditors. That list did not include our client. Clearly there was an intent to speed through a dissolution without fully informing the liquidator of all creditors.

The liquidation firm was contacted and informed of our client’s claim. The result was that the court case was allowed to proceed and a judgement was made in favour of our client. There will now be a proper and detailed investigation into the business of Access Corporate Ltd. We expect the investigation to have both financial and criminal repercussions for the company director.

There were several other money mule companies involved in StratXMarkets and we are now turning our attention to those companies.

To view the previous post on StratXMarkets please click HERE

Adam Reeves
June 3, 2019
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Allansons LLP

Allansons LLP https://safeorscam.net/wp-content/uploads/eg-image-9.jpg 2000 1333 Adam Reeves Adam Reeves https://secure.gravatar.com/avatar/02d799d887d9138b874a845dd420ddcb?s=96&d=mm&r=g June 3, 2019 August 5, 2019

Allansons Litigation Funding was a scheme operated by the law firm of Allansons LLP. In June 2018 we warned potential investors that we had serious concerns about this investment proposal. See HERE.

In late May 2019 investors received a letter from a law firm acting on behalf of the Solicitors Regulation Authority. The letter contained the following information:

“Allansons LLP of 1st Floor, Queens Buildings, Central Street, Bolton, Lancashire, BL1 2AB, 658 Ormskirk Road, Pemberton, Wigan, WN5 8AQ and 44 Clarendon Road, Watford, Hertfordshire, WD17 1DR (‘Allansons’), has been closed by the Solicitors Regulation Authority (‘SRA’). This is called an intervention. The intervention took place on 24 May 2019.

Allansons can no longer act for its clients. This means they cannot act on the miscalculated mortgage payment claims you were funding. The clients pursuing those claims need to find another lawyer to act for them.

What does the intervention mean for my litigation funding agreement?

We understand that the litigation funding agreement is between you and Allansons, not you and the claimants (i.e. the people for whom Allansons were pursuing the claim).

Although Allansons have been closed by the SRA and can no longer act as solicitors, the company Allansons LLP (Company Number: OC341712) still exists.

Safe Or Scam is an investigations firm. We investigate the claims made in promotional material and in contracts. We are not legal advisers and we cannot give legal advice, but we have relationships with law firms which specialise in financial services claims, negligence claims against law firms, and private criminal prosecutions should the investigations uncover evidence that a fraud may have been perpetrated. One of our legal partners has already expressed an interest in this case.

There are two groups of people affected by the collapse of this scheme. They are the mortgage claimants and the investors who provided the ‘litigation funding’. Safe Or Scam would like to hear from both groups. At this stage we do not know what may or may not be salvageable from this investment.

In every case we will need to review all the documents because we are aware that the Allansons Litigation Funding paperwork changed since it was first launched. We have seen different versions of the same basic proposal. There are third parties involved in this scheme which may have some questions to answer.

Please contact us if you were a claimant pursuing a mortgage mis-selling claim or you were an investor funding the litigation. We are very interested in how this scheme was operated. We believed from a very early stage that this investment opportunity was flawed and that both claimants and investors were not being told the truth.