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May 2021

Scam Alert

Aemilius Cupero Scam

Aemilius Cupero Scam 300 233 SOS Team

Aemilius Cupero Scam

Aemilius Cupero is running a follow-on-fraud targeting victims of binary option scams and the Pacific Tycoon shipping container scam.  A follow-on-fraud is also known as a Recovery Room scam.  See this article on the latest recovery room scam we exposed [LINK to Alastair Dobbie and Gian Luca Fetta].

The image below shows the sales pitch which was pinned to the wall of the Pacific Tycoon sales office and which its salespeople were expected to follow.  It’s similar to those used by most sales agents who sell scam investments.

Pacific Tycoon Sales Pitch

 

 

If the image is unclear this is what it says:

SPEAK SLOWLY – HONESTY – SINCERITY !  THE MESSAGE TO REPEAT AND REPEAT.

1.  YOU WILL MAKE OVER 30% A YEAR AND GET PAID MONTHLY.

2. THERE WILL BE NO RISK OR JEOPARDY TO YOUR MONEY.  YOUR CONTAINERS ARE INSURED.

3. YOU WILL SELL YOUR CONTAINERS AT COST, AT EXACTLY THE PRICE YOU PAID FOR THEM, WHENEVER YOU WISH.

4. YOUR CONTAINERS WILL MAKE YOU MORE MONEY THAN YOUR OTHER INVESTMENTS.

5. WHEN THEY DO PLEASE GIVE ME SOME MORE BUSINESS, OK ?

6. LET’S GO AHEAD WITH 5 CONTAINERS;  YOU WILL GET YOUR FIRST INCOME PAYMENT ON THE 7TH OF NEXT MONTH, OK ?

ASK FOR ORDER

Pacific Tycoon was a very large scam which was sold worldwide a few years ago.  The proposal was that investors purchased shipping containers.  The containers would be used by companies wishing to transport their goods around the world.  Pacific Tycoon would organise the import-export arrangements and pay the owners of the shipping containers a 30% pa return on their investment with a guaranteed replacement policy should any shipping container ever be damaged or deteriorate through wear and tear.  The scam was operated by a man who called himself Ted Mallory using salespeople in Hong Kong.  Mallory lives in Vietnam, making it very difficult for investors to take any action to recover their money.

The company still exists but pays annual returns of around 0.1%.  These low returns started as soon as the sales operation ran out of steam.  It was a classic Ponzi Scheme.

The Aemilius Cupero follow-on-fraud claims to be based in Wyoming, USA with an office in Hong Kong.  Investors are being contacted by the USA office and told that Aemilius Cupero is running class actions against five Mallory companies allegedly based in Estonia.   Emails from the company are sent by Jacob Hayman.

Regards,
Jacob Hayman
Client Relationship Manager
+1 (307) 461 9822
201 East 5th St. STE 1200
Sheridan, Wyoming 82801
United States of America

Aemilius Cupero is not genuine.  The fact that victims of binary option scams are being targeted suggests an Israeli connection because Tel Aviv was one of the global centres for binary option frauds and there have been several high profile investigations.

Any company based in the USA would have a much better command of the English language.  Here is a link to their website [LINK].

Here are some examples of the language they use.  It reads as if 10,000 words have been put into a Scrabble bag, pulled out at random and then arranged to form a sentence.

“Our endowed affiliations globally omnisciently seek your interest and attitudinally employ requisite acumen to reduce all possibilities of exoneration and establish the wrongful intentions of the defendant”.

“Our ecumenical presence offers specific options for apposite legal recourse for financial recovery interests to the uttermost representation”. 

We regard statements like those above as being pyrogenous amalgums of designatory effervescences constituting intransient zygums.  [For the record – Zygums is a great Scrabble word].

According to the Aemilius Cupero website they have 2,000 happy clients, yet the website domain name was only purchased a year ago.

There’s another reason which points to them being a scam.  Almost every review is 5-stars.  This tells us that they’ve written their own reviews.  If they were any good at exposing scammers they would have received quite a few 1-star reviews and negative comments written by the scammers themselves.  Scammers always post fake reviews and fake statements against investigation firms which cause them grief and are successful in disrupting their scam operations.  That’s part of the game.

Aemilius Cupero Scam.

 

Scam Alert

Alastair Dobbie and Gian Luca Fetta

Alastair Dobbie and Gian Luca Fetta 300 233 SOS Team

Alastair Dobbie and Gian Luca Fetta

Many thanks to those people who sent us the email written by Gian Luca Fetta, one of the members of the Alastair Dobbie Investor Co-Ordinator Scam.  You can read about that scam via this [LINK]. 

The Gian Luca Fetta email isn’t true, but it didn’t need to be truthful.  That wasn’t the purpose of the email.  Its aim was to divert attention away from the roles of Alastair Dobbie and the co-ordinators in running a profit-making recovery room scam.  A “recovery room” scam is one where those involved in the initial scam return to the victims with a promise to help them recover their money.  The scammers charge a second fee from the victims for that alleged recovery.

Alastair Dobbie and Gian Luca Fetta, along with their fellow investor co-ordinators, are charging £1,000 per room for scams in which they were involved.  As we described in our previous article, Alastair Dobbie would have been fully aware that these scams were designed to fail.

According to Alastair Dobbie’s latest communication he charges £590 + vat per hour (£708 per hour) to the scam for his services.  Here’s a link to a site where Alastair Dobbie was charging £50 per hour not so long ago [LINK].   The address is the hotel he was managing at the time and is still involved with, although we note from Trip Advisor that it hasn’t had any reviews since 2017.  Presumably the hotel was unprofitable and it closed.  This was around the same time that Alastair Dobbie ignored SRA warnings and acted for investors in arranging room purchases in hotels and care home rooms.  It all adds weight to the claim that Alastair Dobbie knew exactly what he was doing when he put investors into the room scams.  Alastair Dobbie’s hourly rate charged to investors is important.  It is the rate charged by top level specialist insolvency lawyers who have spent five years at University studying law.  Alastair Dobbie is a self-taught, low-grade lawyer who has only a very basic understanding of insolvency law.  We believe he is massively over-charging the victims of Qualiacare, MBI and St Camillus scams.

Alastair Dobbie won’t answer any questions about his involvement in any of the scams.  He has been involved in at least four that we know.  Instead he uses his ‘co-ordinators’ to speak for him.  He hides behind Gian Luca Fetta, Roberto Pancaldi and Nico Bruyniks.  Gian Luca Fetta describes himself as Alastair Dobbie’s cheerleader.  They try to deflect all criticism away from Alastair Dobbie because he is their gravy train.  He is the one who ensures that they are able to bring in money.  This is the only way they make money these days now that the sales of scam investments have dried up.  

Nico Bruyniks has now distributed his proposal in an effort to quell a rebellion by investors.  We’ve had it reviewed by specialist law firms.  In their opinion it’s an unnecessarily complicated scheme.  It appears to be part of a strategy to maximise payments from investors.  It enables the Alastair Dobbie Investor Co-Ordinator Scam team to earn money from ongoing “services” in the future.  The more complex the scheme, the more money they can charge.  The Alastair Dobbie proposal for Qualia is that two CVAs (QCD and QCP) become fifteen CVAs !

The important question is whether or not this proposal has any chance of success.  It is the view of our advisors that it does not.  It does not matter whether Robin Forster does a deal with Alastair Dobbie or not.  It’s a proposal which is designed to favour some creditors and disadvantage others, therefore it does not comply with insolvency regulations and would be unacceptable to insolvency practitioners.  They would be expected to refuse any transfer of assets at nominal value and they would be open to prosecution if they released their charge over the assets.

It does not surprise us that the proposal contains the usual warnings designed to frighten investors and prevent them from seeking help or from taking their own actions to recover their investments.  We always advise investors to do what they feel is best for them.  If they want to speak to Robin Forster then they should do so.  If they want to buy the freeholds between them then they should make an offer to the administrator.  Investors need only look to Carlauren Group properties where the majority of those investors ignored representations made to them by Alastair Dobbie and Gian Luca Fetta.  Those investors did their own thing.  The majority of those freeholds have now been sold to investor-led groups at fair prices which allows them to maximise their returns from their investments.  There was no need for those investors to pay £1,000 each to Alastair Dobbie’s team.  MBI and Qualiacare investors should take note.

We’re happy to send a copy of the proposal to anyone who wants it because although it is marked ‘legally privileged’, it isn’t actually legally privileged.  It doesn’t meet the criteria required under UK law.  A half-decent lawyer would know that, but the investor co-ordinators aren’t using a half-decent lawyer.

Some investors we have spoken to have been shocked they were not made aware by the Qualiacare investor co-ordinators that they could have bought the freeholds to their properties very cheaply.  In some cases, the Alastair Dobbie Investor Co-Ordinator Scam is charging investors 50% of the amount which the Administrator would have accepted to buy the freehold !

It’s even worse for the other Alastair Dobbie Investor Co-Ordinator Scam (the St Camillus property in Albert Road, Blackpool).  Investors could acquire the freehold to that property for around £40,000.  Alastair Dobbie was asking 43 investors to pay £1,000 each for his legal advice.  They would have paid him more than it would have cost them to buy the freehold. 

We know quite a few investors who are opposed to the Bruyniks / Dobbie / Pancaldi scam and are only continuing in the Whatsapp groups so that they can keep an eye on what is being proposed.  We’re not surprised that the people who have wasted £230,000 on this proposal are insisting that the money is repaid to them.

Ordinary investors who were deceived into paying the £1,000 fee and did not receive full disclosure from Alastair Dobbie about his involvement in the scam can claim the money back from Shortlands Law, Alastair Dobbie and the individual investor co-ordinators upon request.  The weight of evidence of deception is overwhelming.  The first port of call should be a letter to Shortlands Law requesting a full refund (assuming that all the money went to Shortlands Law and investors actually became clients of that firm).  If some investors did not become clients of Shortlands Law that is an even more serious situation.

One of our institutional funding partners has agreed to pay the costs of a solicitor to represent investors in claims against Shortlands Law, Alastair Dobbie and each of the individual investor co-ordinators who were involved in persuading investors to part with money.  The solicitor will represent those investors with a claim for compensation through the SRA if refunds are refused or only partial refunds are given.  This offer is only for ordinary investors who are not sales agents or investor co-ordinators.

It should be noted that sales agents in these room schemes are paid between 10% – 30% commission.  The maximum UK commission for real estate transactions is 3%.  If we assume a room was sold for £70,000 and we assume the sales agent received the lowest level of commission of 10% then he/she was paid £7,000.  That is £4.900 more than a UK real estate agent would have charged.  The sales agents have been sitting on a very nice profit.  There has never been any need for any investor to have to contribute towards a recovery plan.  The sales agents should have covered it themselves.  Alastair Dobbie should never have charged £590 + vat.  If he had any morals at all he would have acted for free and no investor would ever have been charged.  

We have warned investors about the dangers of believing comments made in Whatsapp or Facebook groups.  It is very common for people to pretend to be someone they’re not.  We frequently see scammers pretending to be ordinary investors.  We have already highlighted how Roberto Pancaldi and other sales agents pretend to be room owners when they are not in order to kickstart a new investor co-ordinator scam (we covered that in earlier articles).  Gian Luca Fetta uses the ID of JLETHO when he pretends to be an investor.  Look out for postings from that ID on the Whatsapp or Facebook groups.  We know he has been using that to provide misleading information to investors in the MBI and Qualiacare cases where he claims that his wife is an investor.  She is not – he is a sales agent who has sold a great many scams.  The false IDs and the emails in which they pretend to be investors are useful evidence of obtaining money by deception.

We will always pursue Alastair Dobbie, Roberto Pancaldi, Gian Luca Fetta and Nico Bruyniks until we are satisfied that they have been fully investigated by the authorities for their parts in recovery room scams.  We don’t mind when scammers post fake articles because it shows we are seriously disrupting their scams. 

We shared our previous article with the FCA [LINK].  We expect the FCA to take the matter very seriously considering the extensive hotel experience of Alastair Dobbie, the SRA warnings to solicitors which Alastair Dobbie ignored, the fact that he asks for £1,000 from investors to provide dubious legal services which are not clearly explained and for which he has a clear conflict of interest, his failure to disclose pertinent, relevant and important information to investors prior to being instructed and his failure to comply with the Code Of Conduct standards required by the SRA.  We also have the situation of Gian Luca Fetta and Roberto Pancaldi pretending to be investors in order to mislead other investors and obtain money from them by deception. 

The FCA has a duty to investigate Alastair Dobbie and the investor co-ordinator schemes, especially when the FCA has alleged that the Qualiacare investment was an unregulated collective investment scheme and comes under their statutory responsibilities.  In addition, Shortlands Law and Alastair Dobbie have contravened claims management company regulations by using investor co-ordinators as introducers.  Alastair Dobbie and his sales agent investor co-ordinators have been responsible for significant investor losses in these scams and they continue to take money from investors.  They can and should be prosecuted by the FCA. 

We have asked the FCA to report this matter to the SRA for further investigation because there are clearly sufficient grounds for doing so.

There has always been a simple and cost-effective solution for investors if they had been properly advised from the start.  It would have cost around £25,000 to instruct a proper solicitor and achieve a fair and reasonable outcome.  £230,000 is a staggering amount for investors to pay, yet the Alastair Dobbie Investor Co-Ordinator Scam team still wants more !

Nico Bruyniks is discredited for his leadership of a recovery room scam, his withholding of critical information from investors and his cover-up of Alastair Dobbie’s involvement in the scams.  The entire investor co-ordinator structure was designed solely to enrich a small group of scammers.  Shortlands Law [LINK] does not come out of this with any credit whatsoever.  It could easily have put a stop to this recovery room scam. 

To view a more recent article on Alastair Dobbie and how he exposed his investor clients to further costs in an aborted court action please click this LINK.

 

Scam Alert

ART Escrow Scam

ART Escrow Scam 300 233 SOS Team
ART Escrow Scam.
We received notification from an investor in Westway Holdings Ltd that he had been approached to pay money to the ART Escrow scam.
He was asked to pay a £3,000 upfront fee to release funds which the man claimed were being held in escrow.  This is a standard follow-on-fraud aimed at victims of scams.
We looked into it and found that the FCA had picked up on this scam in early May.  SEE LINK HERE.  The FCA has confirmed that the scam company is pretending to be a legitimate UK company of the same name and that the UK company has nothing to do with it.
The bank details given by the scammers for the £3,000 payment were:
Account Name:  Aisha Adam
Sort Code: 23-05-80
Account Number:  23723026
The intended victim was able to confirm that he recognised the scammers voice from other calls he had received in the past relating to other follow-on-fraud attempts.
Scam Alert

Alastair Dobbie Investor Co-Ordinator Scam

Alastair Dobbie Investor Co-Ordinator Scam 300 233 SOS Team

Alastair Dobbie Investor Co-Ordinator Scam.

First a quick note to say we received a copy of Nico Bruyniks’ comparison of legal actions.  It’s designed to rubbish the legal actions we help to establish because we are a serious threat to the Alastair Dobbie Investor Co-Ordinator Scam.  The figures and assumptions they have issued are false, but we will let the law firms address this part of the Bruyniks misinformation campaign.

The law firm we proposed for Qualiacare investors is the same one which is handling the Carlauren case (another scam Dobbie and Pancaldi were involved in).  It’s the same firm which Alastair Dobbie has been saying is working against the interests of investors (all part of his attempts to rubbish people who are intent on exposing him and his investor co-ordinator scam).  That law firm has already achieved settlements for Carlauren investors in quite a short period of time without any court action.  Insurers are not keen on going to court against the firms we recommend because we work with the best.

What Alastair Dobbie and the investor co-ordinators are worried about is the fact that, in addition to making claims against the conveyancing firms in the Carlauren case, our recommended law firm is also running separate actions against two of the main sales agent companies on the grounds that they were aware the Carlauren scheme was unsustainable, but still sold rooms to investors.  This action represents a second opportunity for scam victims to recover more money. Very few law firms are willing to run these additional claims.  Nico Bruyniks and his sales agent friends haven’t told Qualiacare investors about that and it is very relevant as you will see from the information below !

NEW INFORMATION

We have already published a lot of damning information on Alastair Dobbie and his accomplices.  This article adds even more.  The more we look into the Alastair Dobbie Investor Co-Ordinator Scam the worse it gets.

Questions are now being asked as to whether or not the Investor Co-Ordinator scam was part of a strategy agreed a long time ago, before any of the room investment scams collapsed.

The investor co-ordinator structure was devised by Alastair Dobbie, (Maths Tutor, Lawyer and Dreamer)  Alastair Dobbie _ Founder @Zimple.it _ F6S Profile, working with Roberto Pancaldi, Luis Da Silva and Gian Luca Fetta (three sales agents who have sold a large number of scams between them).  They elicited the help of Nico Bruyniks who they call their ‘Chair Of Co-Ordinators’.  Between them they are withholding information from investors, issuing false and misleading information and raising money for the Alastair Dobbie Investor Co-Ordinator Scam.  We believe some of that money is being shared with the sales agents involved and have asked Alastair Dobbie, Shortlands Law and the investor co-ordinators several times to clarify the position.  None of them have ever responded, except for Nico Bruyniks who wrote to say that he won’t be asking any questions of Alastair Dobbie. That does not reflect well on his claim that he can be trusted by investors.

We were fortunate to be able to see how the Alastair Dobbie Investor Co-Ordinator Scam begins its approach to investors.  They start with one of them pretending to be an investor.  For example, when Roberto Pancaldi made his first approach to St Camillus investors to ask them for £1,000 each this is how he signed off his email.

Roberto Pancaldi

Room 608 – No 7 Blackpool Limited

Roberto Pancaldi doesn’t own room 608, or indeed any room in any development.  He sells the rooms.  One of his victims owns room 608, but he pretended to be an investor just to get St Camillus investors onboard.  That is how the Investor Co-Ordinator Scam starts.  Investors have a tendency to trust other investors and that is why they also quickly recruit genuine investors to act as investor co-ordinators.

Alastair Dobbie was a consultant solicitor with B&M Law.  We have already highlighted how he chose to airbrush that out of his LinkedIn ‘Experience’ section.  After all, B&M Law is likely to be one of the law firms which will be a potential source of compensation for investors in the legal actions.  Alastair Dobbie wants to distance himself from that because he was the one who brought in those victims.

Both Alastair Dobbie and B&M Law would have been aware of the SRA warnings about solicitors not getting involved in highly questionable investment schemes.  Here is a SRA Warning which was issued to all solicitors in June 2017 [LINK].  Investors really need to read this warning in full because it is very important they understand why Alastair Dobbie, as a solicitor, should not have gone anywhere near these investments.  He was involved in at least four separate hotel room and care home room scams after this warning was issued.

Here are some excerpts from the SRA Warning:

We have warned for a number of years about the risks posed by dubious or questionable investment schemes.

We expect you [solicitors and law firms] to act with integrity and protect consumers by robustly analysing the risks of any investment scheme you are involved in.

If you suspect that a transaction is potentially fraudulent, dubious or so high-risk that it is unfair to buyers or investors, you should provide full and frank advice to your clients and refuse or cease to act. [our bold].

We are seeing……dubious or risky schemes being presented as routine conveyancing or investment in “land” when the reality is very different.

Schemes are being promoted as involved in the routine buying of a property when in reality the buyer’s money is being used to finance a high-risk development or refurbishment. This is of particular concern in unusual developments such as the buying of individual hotel rooms, rooms in care homes, or self-storage units [our bold and underlining].

Schemes are being promoted by which buyers take a lease of a supposed asset such as a hotel room, care home room, [our bold], parking space or self- storage unit. This list is not exhaustive as fraudsters will continue to search for similar “assets”.

These “fractional property” investments are where the buyer buys a portion or fraction of an investment property and receives a fraction of the rental income and a fraction of the capital growth. These schemes can involve a higher risk than the simple purchase of a property that has already been built. Such investments have been treated as standard conveyances. They were typically marketed as being ‘a low-cost, high-yield investment product that’s hands off and hassle free’.

However, in reality, buyers pay a substantial amount for the asset and also pay conveyancing costs, sometimes of several thousand pounds. There is no obvious reason for someone wanting to invest in a hotel to take out a lease and pay for the conveyancing of one room. It is difficult to see why such schemes require the involvement of a solicitor as this is not a ‘conveyancing’ transaction in the usual sense with a view to title being registered against a piece of land or property. All that seems to be done here is that the law firm is receiving money into their client account and sending it on to the seller. This would be regarded as a breach of rule 3.3 of the SRA Accounts Rules.

Buyers may be inappropriately reassured that taking out a “lease” means that they have a legal interest in the land or property when the reality is that their investment is dependent upon sharing the profits which would arise from the business being well managed.

We also see no particular reason why such investments should provide high returns and you must properly advise your clients of this and of the associated risk of their money being lost. [our bold].

Many of these schemes are likely to be “collective investment schemes” under section 235 of the Financial Services and Markets Act 2000. Collective investment schemes are defined in the FCA Handbook Glossary (see link).  If those involved in the schemes are not authorised by FCA, they will be committing a criminal offence and are likely to be imprisoned. You should exercise caution when being invited to be involved in any scheme that appears to involve a collective investment element. [our bold]

We could go on.  The bottom line is that Alastair Dobbie ignored clear SRA warnings (there have been several) about hotel room and care home room scams.

The only other people who could reasonably have known that these kinds of investments were outright scams would have been people involved in the hotel or care home industries.  We’ve spoken to many hotel and care home operators and they have all been shocked when we have described the typical structure of these investments which is:

1.  Property bought for £X.  Bedrooms sold off to investors on long leases for typically 3 times £X.

2.  Guaranteed rental income of 10% of 3 times £X.

3.  Buy-backs after 5 years at 3 times £X + 20%.

Imagine for a moment if there was ever a solicitor who was also involved in hotel management.  That person would be in serious trouble and someone you could never trust.  There couldn’t be any defence for that person not warning clients to steer well clear of these investments. 

Well…….. guess what.  There is such a person  –  step forward MR ALASTAIR DOBBIE.

Alastair Dobbie has managed hotels.  Here he is responding to a Trip Advisor review about his hotel.  Alastair Dobbie_Hotel Manager_Kew Rooms

Here is a link to one of his companies at Companies House [LINK],

Alastair Dobbie would have been fully aware of the value of a hotel or care home room.  He’s a lawyer and a hotelier.  He’s even a Maths Tutor so it would have been very easy for him to work out how much was paid for the entire hotel or care home and how much was being raised from investors through the sale of rooms.  That would have been a massive red flag.  He would have known from his own management experience that the guaranteed rental levels could never be paid without being supplemented from another source i.e a potential ponzi scheme, and he would know for certain that the buy-backs at 3 times £X + 20% would never ever be achievable.  In short, he would have known without any shadow of doubt that each of the investments he participated in was a scam from the very start.

We now believe it is highly likely Alastair Dobbie and his sales agent partners knew these schemes would fail and that they planned to make money from selling the scams, whilst at the same time calculating ways to make money later when the scams collapsed.  

We believe there is a strong chance they planned the investor co-ordinator scheme in advance waiting for these investments to fail and that it is possible their aim has always been to frustrate the efforts of administrators / liquidators to sell the properties at the best price because they want to pick up the properties for their selected high net worth investor friends.

The only way to achieve that aim would be to fool investors into thinking the investor co-ordinators are on their side and to get as many investors as possible to sign up.  They have used a lot of tricks to get those numbers, but they need the investor numbers to give them control of the administration process.

Alastair Dobbie, Roberto Pancaldi, Gian Luca Fetta, Luis da Silva and the majority of investor co-ordinators are part of this large scam.  We also believe Nico Bruyniks is withholding important information from investors and we have to regard him as being part of the scam too.  We believe it is no coincidence that Nico Bruyniks is also a hotelier and he is based in Austria where Alastair Dobbie now lives.

There are some genuine investor co-ordinators, but at this stage it is not possible to know who is genuine and who is part of the Alastair Dobbie Investor Co-Ordinator Scam.

Where does this leave investors ?

It’s very difficult to say.  The genuine investor co-ordinators should contact us and we will try to help them (free of charge).  We work with a number of UK law firms and we are sure that one of them would be willing to help at no cost.  Investors need an honest person to co-ordinate them.  It should be an investor, but one we have checked out on behalf of all other investors.  Do not trust any communications from the Alastair Dobbie Investor Co-ordinator Scam.  It is all controlled by Alastair Dobbie and sales agents.

We would advise all investors to immediately demand the return of their £1,000 because it is clear Alastair Dobbie was involved in scams, acted against warnings given by the SRA and covered up the fact that he had enough knowledge of hotel values, finances and operations to know that these ponzi scheme room investments were sure to collapse and were outright scams.  Investors affected by this scam should report the matter to the SRA using this [LINK].

To view our previous article on Alastair Dobbie please click here [LINK].

To view a more recent update on the Alastair Dobbie Investor Co-Ordinator Scam please click here [LINK].

 

Nick Carlile of Shepherd Cox

Nick Carlile of Shepherd Cox 150 150 SOS Team

This morning at the High Court the IVA Proposal submitted by Nick Carlile of Shepherd Cox was dismissed.  The Judge duly declared Nick Carlile bankrupt.

Scam Alert

Fabcourt Developments Scam

Fabcourt Developments Scam 300 233 SOS Team

Fabcourt Developments Scam.

On 2nd March 2021, the FCA issued a warning [LINK] about a company called Fabcourt Developments.  The warning was to advise the public that the company may be providing regulated services or products without FCA authorisation.  The sale of loan notes and bonds to retail investors is a regulated activity which requires FCA permission in the UK.  Here is an excerpt from the FCA warning:

Unauthorised firm – Fabcourt Developments

Address: 2 Gladbeck Way, Enfield, London, UNITED KINGDOM, EN2 7JA

Telephone: 02087206798, 07933009233, 02034755312

Email: admin@fabcourt.co,

peter.redwood@fabcourt.co,

nicholas.thornton@fabcourt.co,

james.walker@fabcourt.co,

james.edwards@fabcourt.co

Website: https://fabcourt.co/

Be aware that some firms may give out other details or change their contact details over time to new email addresses, telephone numbers or physical addresses.

Our Scam Alert warning takes this a step further.  Investigations into the Texmoore scam [LINK]revealed that the people behind it also established the Fabcourt Developments scam and the Cavendish Incorporated Ltd / Cottesmore Associates Ltd scams [LINK].  Three supposedly separate investments operated by seemingly separate companies, but in reality three scams involving the same group of people.

Fortunately, the more scams a team of scammers establish the more mistakes they make which makes it possible to trace key players involved in the scams.  Some of those people think they have got away with it, but they haven’t.  We have traced the scams right back to the very first involvement and are confident we know most of the people involved.

The first scam was Texmoore Ltd which involved two other companies, Sentor Solutions Ltd and Sentor Solutions Advisory Ltd.  We know that a number of investors reported Texmoore to Action Fraud and were informed that the case had been reviewed and it had been decided that no further action would be taken.  We sent our full report to City Of London Police who have now confirmed that enquiries are being made and the matter will be passed to a police force for further consideration.  We are expecting that police force to take the matter forward.

Whilst investigating the network of scam companies we came across one of the investors who was a director of a linked company.  It would appear that the scammers used his identity to establish a new scam company.  When an investor makes an investment and completes an Application Form they provide a lot of personal details – name, address, date of birth, phone number, email, bank account they’d like their payments made into etc.  Scammers use these to register the unsuspecting investor as a company director in a new scam company !  There is no doubt they had every intention of using that company in a new scam.  Companies House does not carry out any checks on company directors.

If you have made an investment with Fabcourt Developments please go to the Action Fraud website and make a report [LINK to Action Fraud website].  Mention in your report that you believe Fabcourt may be linked to a current investigation under the name of Texmoore.  That should enable Action Fraud to link the cases.

Fabcourt Developments scam.

 

Cottesmore Associates Update 1

Cottesmore Associates Update 1 300 224 SOS Team

Cottesmore Associates Update 1.

Five days ago on 6th May 2021 we published this article [LINK] on Cavendish Incorporated and Cottesmore Associates.  We had linked the people involved in both these companies to the Texmoore scam.  We had reported this matter to the Enforcement Department at the FCA and given them details of how the various parties were interlinked.

On 7th May 2021, the day after our article was published, Cottesmore Associates Ltd’s status as an Appointed Representative of Cavendish Incorporated Ltd was cancelled.  This means that Cottesmore Associates Ltd is no longer able to claim that it is FCA-regulated.  Here is a LINK to the FCA entry.

However, that has not stopped Cottesmore Associates having one last roll of the dice at stealing money from investors.  Despite not being FCA-regulated the company has been contacting people who had made investment enquiries giving them the ‘hurry up’ message.  Here is a copy of their email:

I hope you are well.
Regarding your previous online enquiry, today, we have attempted to contact you by telephone.
At a time most convenient to yourself, we look forward to further introducing a new opportunity – a Property Bond (Loan Note), that is:
Fully regulated by the Financial Conduct Authority (FCA).
Fully protected by the Financial Services Compensation Scheme (FSCS).
Tax-exempt.
Offering fixed-rate annual returns, upwards, of 6%.
For further information, at no obligation, please suggest the best time/s to speak and we will be happy to help.
Kind regards,
Michael Stern

Senior Representative | 

Cottesmore Associates Ltd |

phone:  020 3970 9785

website:  www.cottesmoreassociates.com

email:  admin@cottesmoreassociates.com

address:  12 Chapel Road, Ilford, England, IG1 2AG

So what about the top company of the two – Cavendish Incorporated Ltd.  Well, that’s still FCA-regulated for the time being.  According to its last accounts it has been doing pretty well.  It was formed in July 2019 and in its first year of operation it is showing net assets of £2.2m (if you believe the filing at Companies House).  It’s amazing that just before these accounts were filed it was ‘all change’ at Cavendish Incorporated with directors leaving and new directors taking over.

If you think that’s impressive it is nothing compared to Ledbridge Consultants Ltd [LINK to Companies House].  This is the company which has registered a charge over Cavendish Incorporated Ltd.

We could go into a lot of detail about these two companies, but suffice to say that the links to the Texmoore scam are many. Ledbridge Consultants Ltd has had meteoric success (if you believe the filings at Companies House).  We don’t.

One of the reasons we don’t believe the account filings which show large surpluses of cash is because of our old friend Barbara Kahan.  Here we go again….. Barbara is 90 years old and has formed more than 30,000 companies. Go back through our blog articles and you’ll see she comes up a lot. The thing about Barbara is that the companies she forms are shell companies. They don’t trade. They are formed so that scammers can buy them ready-made with no questions asked.  Hence the term ‘shell company’.

Scammers bought Ledbridge Consultants Ltd from Barbara in September 2018.  Six days later they filed the company accounts.  Those accounts ran for the period from February 2017 – February 2018 i.e the period while Barbara was in control.  Barbara must have been on a hellish cocktail of drugs because despite NEVER doing any business with any of her shell companies, she turbo-charged her walking frame and, if the accounts are to be believed, was shooting around doing deals left, right and centre.  The accounts filed at Companies House show that in that period, whilst Barbara was in charge, the company reported it went from Nil assets to assets of £6.8m !  Barbara has to be up for Businesswoman of the Year.  It’s not the first time the Texmoore group of scammers have filed false accounts.

Tomorrow we will publish details of the third scam perpetrated by the same people.

Cottesmore Associates Update 1.

 

Alastair Dobbie and Shortlands Law Update

Alastair Dobbie and Shortlands Law Update 300 300 SOS Team

Alastair Dobbie and Shortlands Law Update

Further to our previous articles concerning the involvement of Alastair Dobbie and Shortlands Law in a number of companies in administration, including Northern Powerhouse Developments’ companies, the Carlauren group of companies, MBI and Qualiacare companies, and St Camillus companies, we have received information from a number of sources which has enabled us to write this Alastair Dobbie and Shortlands Law update.

See below for links to some of our previous articles.

Qualiacare Link 1

Alastair Dobbie LINK

St Camillus LINK 1

It is our contention that victims of the scams have been misled into supporting people who were involved in promoting and facilitating purchases of rooms in the scam companies.  Investors have not been informed of all the facts.

The investor co-ordinators in several of the above administrations have deliberately and intentionally suppressed important information and sought to deceive investors.  The aim has been to manipulate the insolvency processes for personal gain and to disadvantage some groups of creditors.  In suppressing this important information they have denied investors the opportunity to make informed choices and have misled them by omission.  We are grateful to the parties who have contacted us providing this new information.

We have still not received any answers to the questions we put to Shortlands Law and the investor co-ordinators in Qualiacare and St Camillus despite repeated requests.  We will not list those questions here because they appear in our previous articles.

Nico Bruyniks, the ‘Chairman of Co-Ordinators’ for Qualiacare has claimed that he will not ask Alastair Dobbie to answer the questions.  Mr Bruyniks is also a self-appointed investor co-ordinator for the NPD scam.  None of the other Qualiacare ‘investor co-ordinators’ have been willing to ask the questions either.  There is a cover-up of Alastair Dobbie’s and Roberto Pancaldi’s roles in the sale of the scams.

The investor co-ordinators know the truth, but do not want to tell anyone because it would expose the Alastair Dobbie-Roberto Pancaldi scheme as another money-making venture targeting victims of the scams in which they were involved.  Based on information received we now understand that investor co-ordinators have already agreed deals behind the scenes which have not been communicated to investors.

Tom McNerney, a new investor co-ordinator for a St Camillus company in administration (working alongside Kirill Sobolev), has also been contacted several times to ask the same questions of Alastair Dobbie.  He has not informed any of the investors of the serious questions we have raised.

There are two aspects of the involvement of Alastair Dobbie and Shortlands Law which raise concerns.  Those are:

1. The Solicitor’s Regulation Authority Code of Conduct for legal professionals; and

2. The standards required for persons elected to Creditors’ Committees for companies in administration.

We will only cover the SRA Code Of Conduct in this article and will be writing a separate article on Mr Dobbie’s and Mr Pancaldi’s involvement in company insolvencies later this week.  We will also list the investor co-ordinators and provide such information as we have on their backgrounds where it is considered relevant.  Any person who is a party to misleading investors can expect to be held to account.  We have given the investor co-ordinators enough opportunities to do right by investors and they have chosen to turn a blind eye and keep investors in the dark in respect of what has really been going on.

THE SRA CODE OF CONDUCT FOR LAW FIRMS AND SOLICITORS

Here are a few excerpts from the SRA Code Of Conduct which applies to both Alastair Dobbie and Shortlands Law:

1.  “You do not abuse your position by taking unfair advantage of clients or others”. 

2. “You do not mislead, or attempt to mislead, your clients, the court or others, either by your own acts or omissions or allowing or being complicit in the acts or omissions of others (including your client)”.  

3.  “In respect of any third party who introduces business to you or with whom you share your fees, you ensure that:

>> a) clients are informed of any financial or other interest which you or your business or employer has in referring the client to another person or which an introducer has in referring the client to you;

>> b) clients are informed of any fee sharing arrangement that is relevant to their matter;

>> c) the fee sharing arrangement is in writing;

>> d) any client referred by an introducer has not been acquired in a way which would breach the SRA’s regulatory arrangements if the person acquiring the client were regulated by the SRA”.

4.  “You do not act if there is an own interest conflict or a significant risk of such a conflict”.

This is how the Alastair Dobbie-Roberto Pancaldi scheme works today and has worked in the past.

In the early days Alastair Dobbie / Shortlands Law charged a fee to investors.  This was before we highlighted Mr Dobbie’s relationship with the sales agent Roberto Pancaldi.  We have spoken to investors who paid the fee and became clients of Alastair Dobbie / Shortlands Law.  None were made aware of Alastair Dobbie’s involvement in each of these scams, nor were they informed of his professional relationship with Roberto Pancaldi and other sales agents, nor were they made aware of any fee-sharing arrangement in respect of any party.  It is our view that Alastair Dobbie has breached the Code Of Conduct standards above.

We now understand that as a result of us highlighting his activities, Alastair Dobbie of Shortlands Law has adapted his approach.  He has stopped charging some room investors an upfront fee because they won’t pay it.  Instead, he only takes on clients he can trust to keep his prior involvement and payment arrangements secret e.g the investor co-ordinators.  A number of the investor co-ordinators have become Alastair Dobbie clients.  They then claim that Alastair Dobbie has been providing invaluable advice on legal matters and is willing to work for all other investors free of charge. Clearly they believe that by an investor NOT becoming a client of Alastair Dobbie / Shortlands Law they can circumvent the Code Of Conduct standards.

However, we have been advised that the scheme of using ‘investor co-ordinators’ as front-men was devised by Alastair Dobbie and Roberto Pancaldi for the NPD scam and has become their standard way of operating across all scams. We have also been advised that investor co-ordinators have secretly agreed that if they can acquire assets of an administration, they will ensure Alastair Dobbie receives 20% of any uplift in value once the assets are sold by them later on.  This uplift is based on the difference between the money investors receive from a CVA / administration and the final sale price the co-ordinators receive from the ultimate sale of the assets.  For this to work, the investor co-ordinators would need to control the assets, hence the fact that Alastair Dobbie works for them in a solicitor-client relationship, but not for the rest of the leaseholders. Those leaseholders are not his clients so he has no duty to achieve the best outcome for them.

The main body of investors have not been made aware of this arrangement.  The concern we have is that this payment scheme encourages a solicitor to ensure that non-clients receive as little as possible from a CVA / administration.

We have noted in previous articles that Alastair Dobbie has put forward numerous unworkable and unachievable proposals which have required the administrators and their lawyers to respond many times.  Not a single one of his proposals has ever been adopted in an administration, but every minute that an administrator or lawyer spends dealing with these proposals is billed against the administration, reducing the amount of money that will ultimately be paid out to creditors.

The lower the amount creditors receive from an administration, the greater the potential profit for the solicitor and his sales agent partners.  Technically it cannot be argued that the solicitor is working against his investor co-ordinator clients’ interests because they are the ones who have agreed this payment structure with him.

We have asked Shortlands Law to comment on this and to answer a few more questions.  Namely:

A)  Are they aware of any 20% uplift deal ?  If so, is that a standard billing arrangement they support ?  Are they satisfied that this complies with the SRA Code Of Conduct ?

B)  Who are the elite group who will end up acquiring the assets if Mr Dobbie is ever successful ?

C)  Bearing in mind the allegations made by the FCA that MBI / Qualia has been operating an unregulated collective investment scheme and that parties such as solicitors and sales agents involved in such a scheme can be liable to compensate investors, are they satisfied that there has been full disclosure to clients and prospective clients, and that there are no conflict of interest issues ?

D)  Is Shortlands satisfied that clients are aware of all fee-sharing arrangements and if so, what are those arrangements ?  Please note this is a question which has been asked of Shortlands several times, but we will keep asking it.  We believe Alastair Dobbie and Roberto Pancaldi have been fee-sharing either directly or indirectly.

It is worth noting that if there are fee-sharing arrangements with other parties who act as intermediaries in order to cover up payments to sales agents, that in itself would be a breach of the SRA Code Of Conduct.

E)  Has Alastair Dobbie received any direct or indirect undeclared benefit from his involvement with the Northern Powerhouse Developments’ companies, the Carlauren group of companies, MBI and Qualiacare companies, and St Camillus companies ?  We want to understand if he has been paid by any of the buyers of the assets.

We will publish the Shortlands Law reply if they deem to provide one. As usual, they have the opportunity to advise us of any incorrect statement and we will be happy to amend it and publish an apology.  It is worth noting that we have never received any notification from either Alastair Dobbie or Shortlands Law requesting us to correct any statement made in our articles.  We take that to mean that our articles are true and accurate.

In reality, Alastair Dobbie is not working for investors for free.  He is working for the clients who have paid him.  We have been informed there is a group of wealthy individuals who have been brought together by some of the parties involved to purchase the assets from the investor co-ordinators if the co-ordinators can acquire them from the administrators.  In other words, we have been told this is an entire structure with the aim of ultimately transferring assets into the hands of the select group of wealthy investors.  We have been told that some parties benefit at every stage of the process.  We have asked Shortlands Law to comment and made our position clear to them.  Our comment to Shortlands Law was:

“We are not suggesting for one minute that Mr Dobbie is involved in the sale of scams, then seeks to disrupt the insolvency process in order to make it difficult for administrators to sell the properties, and then benefits from working with vulture groups who swoop in to pick up those properties at low prices. That would clearly be something the SRA would regard as an extremely serious breach of its Code Of Conduct”.

Just wanted to make it clear that we are not suggesting that.

Alastair Dobbie has repeatedly told investors what they want to hear i.e that the buildings cannot be sold without the agreement of 100% of leaseholders, which is absolutely not true, and that investors can buy the freeholds for £1.  He’s never managed to achieve that yet.  If anyone feels they have been misled into paying money to Alastair Dobbie, Shortlands Law or any investor co-ordinator they should request a full refund and report the matter to the Solicitors Regulation Authority using this LINK.  Please be aware that if you do request a refund you can expect to be contacted by Alastair Dobbie in an attempt to persuade you to cancel the request.  That is what has happened to some investors.

If anyone feels they have been misled by Roberto Pancaldi and/or the investor co-ordinators we would like to hear from you.  If you are making a claim for a refund of monies paid to Alastair Dobbie, Shortlands Law, or a co-ordinator we would also like to hear from you.

Finally, to show our articles are fair and balanced we would like to provide Alastair Dobbie with some free advertising.  If anyone is in need of a maths tutor he may be available.

Alastair Dobbie _ Founder @Zimple.it _ F6S Profile

We’ve never seen a solicitor offer maths tuition alongside legal services !  Normally a solicitor tends to focus on his/her legal skills.  As for listing his third major attribute as “Dreamer”  –  well it’s unique.  We’ll give him that.  Not sure that’s a major consideration for most people when they feel they need a solicitor.

“So we need legal help.  Let’s make a list of what we need.  He/she must be inexperienced, must tell us what we want to hear, must charge us £1,000 for a service which will not result in any financial benefit, must be able to convert fractions into decimals without the use of a calculator, Oh – and he / she must be a dreamer.  That’s essential”.

Thank you to all people who have provided information.  All information is always gratefully received.  Our article on how investors have been manipulated in the insolvency processes will follow later this week.

To view a more recent article on the manipulation of investors by Alastair Dobbie and his associates please click here [LINK].

Alastair Dobbie and Shortlands Law Update – Alastair Dobbie and Shortlands Law Update – Alastair Dobbie and Shortlands Law Update

 

High Street GRP

High Street GRP 300 238 SOS Team

High Street GRP Ltd has recently issued a brochure which it claims is a fair deal mapping a pathway out of its current financial difficulties.  The key elements of its rescue plan are to be found at the back of the brochure. Here it is in full with our comments.

THE PROPOSAL

The board has successfully delivered funding solutions and a robust business model that enables the Group to grow and thrive over the coming years.  

[SOS Comment:  Not true.  The company is in default on many loan contracts and it admits that if this proposal is not voted through it will have to undertake a ‘Going Concern’ review.  There is nothing in the proposal which proves the organisation will be able to survive, let alone thrive].

The launch of the PLC and the implementation of strong corporate governance is geared towards a stock market listing at the earliest opportunity.  

[SOS Comment:  No institutional investor, bank or financing organisation is going to risk investing its capital in a group where the accounts were two years overdue, where those accounts have not been audited (which is a legal requirement), and where the auditor has resigned [LINK] stating that High Street GRP was unable or unwilling to produce evidence to support the claims made in the accounts.  The 2019 accounts have still not been filed and are now 5 months overdue.  It would be very unusual for any company to achieve a stock market listing and a successful refinancing under these circumstances].

However, we have one remaining significant issue that is having an impact on our ability to deliver the business plan.  The 7 Year Loan Note has an “Early Redemption” clause that enables investors to redeem their Loan Note with just 30 days’ notice.

Unfortunately, the early redemptions are impeding the company’s ability to move forward and secure a sustainable and profitable future. It is imperative that the directors are able to operate with secure cash flow to ensure the delivery of the Group’s business plan. 

[SOS comment:  In other words, the company doesn’t have enough money to pay the people who are entitled to be repaid, despite them being small investors when compared to the senior debt].

BINDING CONDITIONS TO THE PROPOSAL

Binding Conditions to the Proposal (the “Binding Conditions”).

Loan Note Holders will be asked to approve the following resolutions which amend their rights with respect to the Note:

Restriction on a Loan Noteholder or the Security Trustee from petitioning for redemption or taking any other acceleration, early redemption or enforcement action against the Issuer, the Guarantors, or in respect of the Loan Note Assets until the end of the terms of the Loan Note.

Irrevocably rescinding any redemption notices issued to date.

Waiver of all existing events of default under the Note.

[SOS Comment:  WOW – that’s absolutely shocking.  High Street GRP Ltd is effectively seeking to remove all investor rights in one fell swoop.  Those investors who are entitled to the immediate return of their capital will be prevented from claiming it until August 2025.  The Security Trustee and none of the investors will be allowed to take any form of action to recover any money until August 2025.  The proposal covers not only the SPV company which borrowed the money from investors, but also the Guarantor company.  The Group is also seeking to remove all existing Events of Default.  Here is a list of the Events Of Default copied from a standard Loan Note Contract for which the Guarantor is High Street GRP:

HSG Loan Note Contracts_Events of Default

If this is voted through, the Borrower (the High Street GRP company) can immediately cease all interest payments to investors, will not be held liable for any untrue, incorrect or misleading statements from before the investment was made up to the present day, will be able to prevent any investor recovery action even if the company declares itself to be insolvent, and can enter into agreements with new lenders which could significantly worsen the financial position of existing investors.  The company can even cease its operations and there would be nothing investors can do until August 2025.

Of course, this assumes that the proposal made by High Street GRP is enforceable and will stand up in court if challenged.  It is imperative that investors take legal advice.  We know of many investors who have already requested the repayment of their capital in accordance with the terms of the Loan Note Contract.  We believe the proposal has been made to frustrate their efforts to recover their money].

Consequences of Not Voting in Favour of the Proposal

Should the support from the Loan Noteholders not be forthcoming, the board of directors will have no choice but to undertake a “Going Concern” review of the business. The board cannot stress strongly enough the importance of ensuring stable cash flow to enable delivery of these projects

[SOS Comment:  High Street GRP has had a full year to get its accounts in order AND to undertake a ‘Going Concern’ review of the business.  Both should have been done BEFORE putting a restructuring proposal to investors.  They haven’t been done].

SECURITY POSITION OF THE NOTE

The security position remains in place but it is further enhanced by the creation of High Street Group PLC which will be taking all future projects forward.

[SOS Comment:  How ?  What does the ‘Security Trustee’ ( Castle Trust and Management Services [LINK] ) say about the proposal ?  As usual they have said nothing].

The current PRS business (High Street Residential), projects, special purpose vehicles, assets and all of its employees will be transferred into the new PLC by the end of 2021.

High Street Group PLC

The success of High Street Group PRS projects has attracted interest from investors and stimulated a pipeline of opportunities for future growth. Within these opportunities is a demand for greater governance and more structured control

As a PLC business there is much stronger Corporate Governance.

Two non-executive directors, Andrew Marsh, who is the Chair of the Board, and Rachel Turnbull, have been appointed to the PLC board. Both have considerable experience in governance, investments, and finance.

This significant shift in structure will empower investors and Loan Noteholders with improved reporting and governance and also helps to attract and retain corporate investors into the business.

[SOS Comment:  High Street GRP should start by ensuring that its historical accounts are properly audited.  That is the first step in providing stronger Corporate Governance.  It has had plenty of time to arrange that, but the Group has always avoided independent scrutiny of its financial dealings].

High Street Group will continue to provide a corporate guarantee to Loan Noteholders.

High Street Group PLC will provide an additional guarantee for any shortfall to Loan Noteholders that the Group does not deliver for whatever reason.

[SOS Comment:  A corporate guarantee is worth nothing if these companies are insolvent and unable to pay their existing debts.  What would give investors more reassurance are personal guarantees from the directors.  If they have confidence in the business they would give personal guarantees, not worthless corporate guarantees].

LEGAL GUIDE TO THE LOAN NOTEHOLDERS

Together with this document you will receive notice of a meeting for Loan Noteholders where a vote to pass a Special Resolution to the terms of their Loan Notes will be undertaken. The purpose of each of the Loan Noteholders’ vote is for the Issuer to propose that Loan Noteholders approve, by way of a Special Resolution, amendments to each of the relevant loan note instruments to give effect to the Proposal and approving the Binding Conditions. For a Special Resolution to be passed, it requires the approval of not less than 75% of Loan Note Holders (or their proxies) at a meeting to be held at the Sea Hotel, South Shields on the 10th of May at 10:00.  [SOS Comment:  the date has been pushed back].

The notice of the meeting will contain instructions on voting personally or by proxy, and will attach the form of supplemental or amended and restated Loan Note Instrument, giving effect to the Proposal, that will become effective if this Proposal is approved by the Loan Noteholders by way of Special Resolution.

Should you have any queries, please do not hesitate to contact our Customer Care team on registration@thehighstreetgroup.com or call 0191 432 7915.

Confidentiality

The Loan Noteholders should note the content and terms of this Proposal are confidential and the information provided regarding the Group’s financial affairs are confidential. Accordingly, the information should not be disclosed to any person other than their professional advisors as required in the course of duty to consider the same.

[SOS Comment:  We haven’t revealed any of the unaudited ‘Group’s financial affairs’ or the questionable estimated future revenues.  The financial statements are suspect due to the lack of independent verification.  We’ve chosen instead to highlight what voting for this proposal would mean for ordinary investors].

Independent Financial and Legal Advice

We recommend that Loan Noteholders take both independent financial and legal advice regarding the Proposal.

[SOS Comment:  Well, a statement we can finally agree with although the company is not giving them enough time].

INVESTORS MUST JOIN TOGETHER AND TAKE INDEPENDENT FINANCIAL AND LEGAL ADVICE.  IN THE MEANTIME, INVESTORS SHOULD WRITE TO THE SECURITY TRUSTEE REQUESTING AN ADJOURNMENT TO THE PROPOSED MEETING UNTIL THE GROUP’S ACCOUNTS HAVE BEEN INDEPENDENTLY AUDITED.  THIS WILL ALLOW INVESTORS’ FINANCIAL AND LEGAL ADVISERS THE NECESSARY TIME TO UNDERTAKE A THOROUGH REVIEW.

It took High Street GRP more than 3 years to file its 2018 accounts so it cannot complain if investors ask for a much shorter period to be able to undertake a proper review of the proposal. It is time for the Security Trustee to step up and prove that it’s not in bed with High Street GRP.  Castle Trust and Management Services Ltd should be informing High Street GRP that it needs the accounts to be signed off by an independent auditor].

We can confirm that it is still the intention of our clients to pursue actions to recover their investments.  They oppose the attempts of High Street GRP to deprive them of their contractual rights.

To view a previous article on High Street Group click here [LINK].

 

Cavendish Incorporated and Cottesmore Associates

Cavendish Incorporated and Cottesmore Associates 300 300 SOS Team

Cavendish Incorporated and Cottesmore Associates

We have evidence that some of the company directors of Cavendish Incorporated and Cottesmore Associates were involved in the Texmoore loan note scam [LINK].

Cavendish Incorporated Ltd is currently promoting a similar investment product to Texmoore i.e loan notes for student accommodation, mixed residential and commercial properties.  The company became FCA-regulated on 17th January 2021.  To quote from the website:

“At Cavendish, we believe in creating communities and making a positive and enduring impact on the country’s built environment. We focus on developing student accommodation (Purpose Built Student Accommodation and traditional residential properties), social housing and commercial schemes, creating vibrant and sustainable urban environments. We deliver long-term value to our stakeholders through our rigorous approach to development and our innovative design”.

“Our aim is to create developments that enhance the areas around them and improve the lives of their occupiers, whether residential or commercial. We deploy innovative design and thorough research, working only with trusted partners, to achieve this goal and make our vision a reality.”

Bhavita Punja | Director

“We undertake as much of the development process as we can in-house, from identifying sites, to financing and designing the building or scheme, and will only work with trusted professional partners when required. We don’t have generic blueprints that we impose across the board; instead we treat every site individually, with sensitivity to its particular needs and environment. We focus on developing our schemes with a specific requirement or ambition in mind, whether that be a great place for a business to thrive or high-quality social housing for those that need it most – our schemes have individual personalities that suit their locales. Our potential development portfolio is broad in scope, with greenfield and brownfield sites, and both city centre and out-of-town locations. We develop sites from the ground up and also improve and redevelop existing sites, renovating them in their entirety and bringing them up to date for modern living and working”.

“We either sell our developments upon construction or enter into long-term leases: with local councils and authorities in the case of social housing, with universities and privately in the case of student housing and with businesses on the commercial side. In a world of historically low interest rates and volatile markets, secure assets that produce predictable income over a long period of time and can help hedge long-term liabilities are becoming ever more valuable for investors and for our stakeholders”.

Cottesmore Associates Ltd was incorporated on 23rd November 2018.  It became an Appointed Representative of Cavendish Incorporated Ltd on 11th February 2021.  This means that it can carry out FCA-regulated activities under the umbrella of Cavendish Incorporated Ltd.

We tried contacting both companies by telephone several times asking to speak to a company director or to one of their team.  Nobody was available.

We have more information but cannot publish it at this time.  We have made a report to the Financial Conduct Authority and we advise any person who may be considering making an investment with either of these companies to contact the Financial Conduct Authority on this link before parting with any money.

To view a more recent update please click this LINK.

 

 

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