A company calling itself Insolvency Case Support is operating a follow-on-fraud. A man going by the name of Robert Howarth (it will not be his real name) has been cold-calling investors claiming that Insolvency Case Support Ltd has been “appointed as the liquidators of Pan Global / Solari Holdings“. He follows up with a letter which is so poor that his scam colleagues must be laughing at him behind his back.
Firstly, he doesn’t even know the company names of the scams he is claiming to have been appointed over. “Pan Global” is not a company name. Neither is “Solari Holdings”.
Secondly, the Pan Global scam is different to the Solari scam. Pan Global was a shipping container scam whilst Solari was a solar energy company profit share scam.
We have a group of 37 investors working with a UK solicitor to recover money from the Solari scam. Solari is an interesting case because it was made to look like the scam was all taking place in Hong Kong and Australia, but it was actually being orchestrated in the UK. Parties involved in the Solari scam included, amongst others, Dr Constantine Pagonis, now of the FCA-regulated company Ipsum Invest Ltd, and Matthew Stone and Duncan Clark, now both of Renovare Fuels Ltd, Teysha Technologies Ltd and Nextgen Nano Ltd. Those companies are using very similar business models to the Solari scam ie raising funds for cleantech / renewables / futuristic ventures.
Renovare Fuels Ltd, Teysha Technologies Ltd and Nextgen Nano Ltd all have their registered offices at the law firm of Taylor Vintners LLP. That is the firm which recently wrote to a Solari investor warning him that he was slandering their clients (Matthew Stone and Duncan Clark) because he referred to them as being “convicted fraudsters”. That is a fair point. We wrote to Taylor Vintners on the investor’s behalf apologising for the use of the word “convicted”. Neither of them have been convicted.
We have written to Taylor Vintners in the past asking them to explain the involvement of Matthew Stone and Duncan Clark in the Solari scam. They declined to answer any of the questions we raised, but interestingly they didn’t deny that Mr Stone and Mr Clark were involved. Anyone who is contemplating investing in Renovare Fuels, Teysha Technologies or Nextgen Nano might want to ask Matthew Stone and Duncan Clark to explain their involvement in the Solari scam before they commit any money to these ventures. They might have more luck getting answers than we have had. Anyone who does get an explanation please send through to us. We’d love to know what they have to say. As we pointed out to Taylor Vintners, they must be so proud to have their law firm associated with such people.
But we digress. The aim of this article is to warn the public about Insolvency Case Support. There are other clues as to just how poor a follow-on fraud this actually is. For example, the letter states “Insolvency Case Support Ltd is the trading name of Insolvency Case Support”. Err…. that’s supposed to be the other way round Dumbo !
It gets worse. The letter is two pages long. The footer on the first page states that the company is Insolvency Case Support Ltd with company registration 07559553. The footer on the second page doesn’t give a company name but gives the company registration number as 06593697, a different company. This link to the Companies House website shows that the company with that number, Insolvency Advisory Ltd, was dissolved in May 2019. Dumbo !
What this suggests is that this scammer was previously involved in a follow-on-fraud where he claimed his company was Insolvency Advisory Ltd. He is now pretending to be Insolvency Case Support Ltd so he changed the footer on the first page assuming that it would also automatically change the footer on the second page. It didn’t. Don’t these guys even bother to read their own 2-page letter to check for errors ? This guy is definitely bottom of the scammer class. It’s useful info for us because we like finding connections between various scams.
He goes on to bait the hook for investors by claiming they are entitled to dividends:
“You may be aware that creditors are entitled to claim for a dividend in the liquidation for debts owed by Pan Global/Solari Holdings at the date of liquidation“. That’s not true. Creditors are never entitled to dividends from a company in liquidation.
Then he wants to see if the fish is biting by seeking a response:
“As this liquidation is ongoing and the investigation is currently in litigation, confidentially on existing evidence found is essential. For this reason, no information regarding the investigation can be disclosed until a confidentiality form is signed to ensure that both parties are fully covered under the GDPR legislation“. If anyone signs and returns the form he knows they are on the hook.
His next letter will be to tell investors that they are entitled to a dividend but first they have to pay some “liquidation fees” or “release fees” or “legal costs”. He won’t wait very long before asking for payment because he will be worried that his scam will be exposed and people will come across articles like this warning investors.
Investors / creditors never have to pay any fees or costs associated with a liquidation. Remember that and you’ll kill off these liquidation scams very quickly.