Horizon Consultancies – Kingsgate Insolvency Scam.
Three fake organisations are still operating their follow-on-fraud against victims of scam investments. All three are being operated by the same group of scammers.
There are legitimate companies with these names, but the scammers are pretending to be those companies. The best way to check is to look up the scam company at Companies House – LINK. Write a letter to the company at its registered office address which is shown on the Companies House site. Do not email and do not telephone because the scammers may have those covered, but they can’t cover the registered office address. This is the safest way to check out a company.
In June 2021 we wrote an article on the Everest BVBA Scam – LINK and also the Kingsgate Insolvency Scam – LINK.
In July 2021 we wrote an article on the Horizon Consultancies Scam – LINK.
Since then, the scammers have continued to pester investors with phone calls, emails and requests for them to send their banking details. Kingsgate Insolvency is now claiming to have carried out an Independent Auditor’s Report, the text of which is copied below:
INDEPENDENT AUDITOR’S REPORT
To the Creditors of Essex and London
Report on the Financial Statements
Based upon our audit, which was issued on the 23/07/21, we are pleased to inform you that during the liquidation of Essex and London we have discovered that you are the legal owner of your position(s). We have received the relevant financial statements of Essex and London and they confirm the balance of what you originally purchased. The profit and loss account and statement of changes in equity for the year ended and a summary of accounting policies and other necessary documents were filed accordingly.
Statutory Body Responsibility for Financial Statements
The Statutory Body is responsible for the preparation and fair presentation of these financial statements in accordance with accounting regulations applicable in the UK. Allowing sufficient control as management determines is necessary to enable the presentation of financial statements that are free from material misstatement whether due to fraud or error.
Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with the Act on Auditors and International Standards on Auditing and the related application guidelines issued by the Chamber of Auditors of London.
These standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement.
In our opinion, the financial statements of Essex and London give a true and fair view of its financial position and of its financial performance for the year in accordance with accounting regulations applicable in London.
Kingsgate Insolvency Limited
National House, 80-82, Wellington Road North, Stockport, Cheshire, SK4 1HW Tel: 0161 961 0021 Email: email@example.com
Kingsgate Insolvency asks the investor to forward the report on to Horizon Consultancies. That seems a bit unnecessary because the Horizon Consultancies scammer is in the same room as the Kingsgate Insolvency scammer. They could just reach across the desk and hand it over. The Horizon Consultancies scammer uses the false name of Julian Grant, but sometimes forgets and calls himself Julian Marks.
Having emailed it on to ‘Julian Grant’ (which acts as confirmation to the scammers that they’ve got an investor on the hook and they have a chance of reeling him/her in), the investor then gets a call from Julian. As usual he is calling to give the investor some very good news. The investor is told that he/she is in the 51% of investors whose bonds have been approved for purchase by a third party and the offer is 100% of their losses + a 20% profit. The third party is allegedly The Abu Dhabi Investment Authority. The investor is told that all the scammer now needs is the investor’s banking details so they can wire the money to the investor’s account.
The scammers state that there are no upfront charges so the investor does not have to worry. The investor has 5 days in which to respond or the offer will be withdrawn.
What happens if the investor complies and sends through his banking details ? Well, unfortunately now there’s some bad news. Horizon Consultancies contacts the investor to tell him that due to the amount of money being paid out, the bank has frozen the Abu Dhabi Investment Authority bank account. However, they say the deal can still go ahead if the investor pays 15% of the amount to cover what they describe as ‘pecuniary insurance’. This is apparently a basic policy which will insure the payment which they claim will be made to the investor, or the investor is told they have the option to pay 30% and get a super-duper ‘comprehensive policy’. We’re not sure what the difference is between the two fake policies and neither, it seems, is the scammer !
The Horizon Consultancies – Kingsgate Insolvency scam has a little twist. The investor is contacted by the ever helpful fake Peter Dorset of the fake Kingsgate Insolvency and is told NOT TO PAY THE INSURANCE. Wow, a scammer with a conscience. However, it doesn’t last long and it’s all part of their strategy. He calls back 30 minutes later and says he’s checked it out and the insurance policy is genuine so it is OK to go ahead and pay it. Sneaky devils these scammers.
If the investor doesn’t pay he/she gets a barrage of phone calls from all three organisations attempting to persuade the investor to pay. Everest BVBA comes back in and it, Kingsgate Insolvency and Horizon Consultancies all call the investor. It must be bedlam in that scam office. They thought they were going to have a big and easy payday, but the investor is being difficult.
These scammers will try to persuade investors that the companies are registered on the Financial Conduct Authority website so they can be trusted. It is important to remember that they are scammers who have copied the details of genuine companies. Nothing they say is true.
If you have lost money to a follow-on-fraud you should contact your local police authority and report it.
Horizon Consultancies – Kingsgate Insolvency Scam.