Safe or Scam

Avoid Investment Scams

European Property Coin – Update

European Property Coin – Update 150 150 Adam

Safe Or Scam has assisted investors with the first steps in a legal process against Clear View Marketing Services Ltd, the company behind the bogus digital currency called European Property Coin.

The company failed to respond to a legal claim within the statutory response period and our investor clients will now proceed to court.

On 21st December 2018 we received a letter from a solicitor representing Mr Yasir Gul of G. and S. Accountants Ltd. The letter alleges that comments we have made about Mr Yasir Gul have affected his business. He denies having received our letter sent in February 2018. That’s odd because we also sent it by email to his email address at info@gsaccountants.co.uk and we spoke to him on the phone about it. He told us at the time that his solicitor would deal with it.

To recap, our letter to Mr Gul asked him about the role of his company, Know Tax (High Wycombe) Ltd, which acted as the money collector for European Property Coin. We received no reply so we called him. He said his solicitor would be in touch. Well…… 9 months later his solicitor has now got in touch but it isn’t to answer our questions about Mr Gul’s involvement in European Property Coin, the scam which has taken in more than £1 million from ordinary members of the public. It was to ask us to remove comments made about Mr Yasir Gul. Unfortunately we cannot do that because he is party to a scam operation and is keeping his head down. If he wants us to remove information about him he should be more willing to co-operate. It is worth noting that at no time have we ever received any legal threats from European Property Coin despite repeatedly calling the product an outright scam. They know it’s a scam and they’re using fake names which is why they can’t go to a lawyer.

Since our contact in February, Mr Yasir Gul dissolved the company Know Tax (High Wycombe) Ltd in July 2018. He may think that means he doesn’t have to answer our questions. He may also think that instructing a solicitor will prevent us from mentioning him again in connection with his role in this scam. Well, as this new article shows, we have no intention of letting him get away with it. We have a clear strategy to expose European Property Coin and the people involved with it. Once we have accomplished that we will be turning our attention back onto Mr Yasir Gul.

In our letter of 23rd February 2018 we made things very clear to Mr Yasir Gul. In our final sentence. We wrote “We hope you are willing to assist because we take a very simple view when it comes to scams. People are either on the side of the victims or they are on the side of the scam operator.’

We recently changed the hosting arrangement for the website we published on this matter. We have now reinstated it and over the next few weeks we will be posting information back up. The website can be accessed by clicking on this link.

To view the previous blog comment on European Property Coin and Clear View Marketing Services Ltd click here.

Osage 1, Phenco, Kansas MB, Kansas B2 – Update

Osage 1, Phenco, Kansas MB, Kansas B2 – Update 150 150 Adam

Investors remain frustrated by non-payment of overdue royalties for Osage 1, Phenco, Kansas MB, Kansas B2 and Sooner Energy.

The company director, Martin Finch, has been giving a weak and implausible excuse. It is that he is struggling to find a currency exchange company which will change US dollars into pounds sterling.

Everyone knows it is easy enough to change USD into GBP. The problem is that every one of the respectable companies would carry out anti-money laundering checks. They would also insist on knowing where the money was coming from and how the funds had been generated. That is what the law requires.

Yet, 6 months after payments should have been made to investors, Mr Finch is still having problems finding a currency exchange service that will open an account.

The previous currency exchange service was based in Dubai. Unusual for an investment which allegedly involves payments from the USA to the UK to be routed via Dubai when there are so many reputable currency exchange providers in both the USA and the UK.

More about Osage 1, Phenco, Kansas MB and Kansas B2 can be found on the project-specific website using this link

To view the previous blog comment on this site referring to Osage 1, Phenco, Kansas MB, Kansas B2 and Sooner Energy please click here.

Prosperity – Update

Prosperity – Update 150 150 Adam

A UK solicitor has proposed a recovery action to Prosperity investors at Bentley Court and Parkwood Court in Keighley, West Yorkshire. Safe Or Scam is providing investigative support and analysis to the solicitor. A barrister’s opinion has been obtained which outlines a case for compensation and cancellation of existing property purchase contracts.

The solicitor is holding conference calls with investors at the beginning of January. The investor group will close a week later to allow the claim to be advanced.

A new investor website has been published providing limited information on issues relating to the developments. The website can be accessed via this link.

To view the previous blog comment on Prosperity, Bentley Court and Parkwood Court click here.

Essex and London Properties – Update

Essex and London Properties – Update 150 150 Adam

A proposal to investors in Essex and London Properties who have made themselves known to Safe Or Scam will be made in early January 2019. This was delayed whilst the solicitor partner sought the views of the Official Receiver. The position has now been clarified and we have the agreement of the solicitor to proceed.

Safe Or Scam has involved other professional parties to protect the position of all investors in the Limited Partnership. We believe there was only a token effort made to trace and recover money sent overseas which is evidenced by the fact that only 10% – 15% of the money has been recovered and all of that was sitting in UK bank accounts. To date, none of the money sent overseas has been recovered. The police investigation was handled by one retired police officer brought back from retirement. There is likely to have been budget restrictions which would not have allowed for a thorough investigation of the overseas aspects.

If you are an investor and you do not receive an email outlining the proposal before 10th January 2019 please contact us and we will send it over to you.

SOS has established a separate website on the Essex and London Properties scam which can be accessed via this link.

To view the previous blog comment on E&LP click here.

OurSpace Investors – Update

OurSpace Investors – Update 150 150 Adam

Safe Or Scam is working with a group of OurSpace investors to recover their investments in the OurSpace workspaces investment. The OurSpace project has collapsed. This was inevitable as it was a clone of the disgraced workspace investment operated by Bar Works Inc in the USA. That scheme has been adjudged to be a Ponzi Scheme by a US court and the architect of the scheme has been arrested by the FBI and is facing charges carrying a maximum prison term of 40 years. A number of the people involved with OurSpace were also involved with Bar Works Inc.

Efforts were made to place the assets of OurSpace beyond the reach of ordinary investors by transferring them to a new Malta company called OurSpace Investments Ltd. It is questionable whether that effort was lawful for a number of reasons, not least the fact that the director Kevan Halliwell misled investors. A challenge to OIL ownership of the assets can be expected.

Shortly after the attempt, OurSpace Investments Ltd ceased all payments and has now been placed into administration. SOS has written to the administrator seeking clarification on a number of points. Further information is available on an investors’ website via this link

To view the previous blog comment on OurSpace workspaces click here.

Financial Plus – Bogus Share Offers

Financial Plus – Bogus Share Offers 150 150 Adam

Safe Or Scam has started an investigation into the activities of Financial Plus Ltd operating out of Hong Kong. We were approached by an investor who invested substantial sums to purchase shares in Spotify, Alipay and Tesla through Financial Plus. It was a scam. The Share Certificates are fake and the investor owns no shares in these companies.

The scam involves dozens of Hong Kong companies acting as cash mules for the people behind Financial Plus. The mule companies are incorporated solely for the purpose of opening bank accounts and taking in money for the scammers. They act as cut-out companies in an attempt to make it more difficult to follow the money trail.

The scam involves follow-up activities using other fake organisations who will claim they are holding the shares. They will then offer to sell the shares for a fee. It is the same people.

When the non-existent shares are supposedly sold for at least 10 times the price the investor paid, another fake organisation will claim that they are holding this huge sum of money and will release it after the investor pays the tax (normally 10% of the profit). All the investor has to do is send them the tax money and they will process it. It is the same people again.

We have published a new website on the Financial Plus scam. It can be viewed here

StratXMarkets -Binary Options Scam Update

StratXMarkets -Binary Options Scam Update 150 150 Adam

Safe Or Scam is working with investors in the StratXMarkets binary options scam.

In recent weeks we have taken major steps forward in identifying the parties responsible. We are focused on the money trail and expect in the near future to be able to positively identify some of the people who stole investors’ money. This would represent a major breakthrough in a sector where the perpetrators are often able to avoid justice and go to great lengths to hide their identities. Binary options scams like StratXMarkets and Delta Capital Markets have stolen tens of millions of dollars from ordinary investors. We will publish more on developments in January 2019.

If you would like to learn more about binary option scams please visit our stand-alone website HERE.

To view our previous blog comment please click here. 

Prosperity – Bentley Court and Parkwood Rise

Prosperity – Bentley Court and Parkwood Rise 150 150 Adam

Safe Or Scam is looking into the activities of PDC Prosperity Management (Cyprus) Ltd on behalf of a number of concerned investors. Safe Or Scam was approached by investors in Bentley Court and Parkwood Court tower blocks in Keighley, West Yorkshire.  

Prosperity is a property developer which sells unattractive properties due for refurbishment using funds raised from individual investors. They offered an innovative funding mechanism whereby 50% of the purchase price could be paid over 5 years by a “guaranteed rental” scheme at 10% per year, alongside a claim that the properties are being sold at significant discounts to market values. It is certainly a unique purchase model. There are several aspects of the Prosperity portfolio offerings which have attracted our attention. The portfolio being offered to investors includes large tower block properties in Yorkshire and Birmingham.

At this stage it is not possible for us to say whether we have any concerns at all over the sale of properties at Bentley Court and Parkwood Court. We would always urge caution over any new and innovative funding mechanisms which contain the promise of guaranteed rental payments. Our experience is that guaranteed rental payments rarely run their full term and those that do often contain an element of the investor having been overcharged for the property in the first place. In that case all that is happening is that the investor is being paid back some of their own money dressed up to look like a rental payment.

European Property Coin Scam – Update Nov 2018

European Property Coin Scam – Update Nov 2018 150 150 Adam

Some European Property Coin investors, with the assistance of Safe Or Scam, have begun taking positive action to reclaim their investments. The EPC scam is coming to an end and the perpetrators are becoming increasingly desperate to squeeze more money from investors. The promise that there will be a listing of these worthless fake coins is wearing very thin.

Fortunately we now have a very strong lead in identifying the real name of the company director who calls himself David Jones. He is registered at Companies House as David Jones but this is a false name. In our opinion investors already had a strong case against Florian Pierini but this is made even stronger by the fact that the company has continued to obtain money by deception.

We will be writing to all investors who have contacted us before the end of the year. At that point we expect to be able to declare the identity of David Jones.

DO NOT pay any money to European Property Coin or to Clear View Marketing Services Ltd. We have repeatedly warned people that EPC is a scam.

Scam Alert

Solari Energy – Update 2

Solari Energy – Update 2 300 233 Adam

Solari Energy – Update 2.

This action is now in a position to move forward very quickly. There have been communications with the law firm representing Doug Fletcher and Solari Energy in Australia, the representative of Global Biofuels Group based in Hong Kong, and solicitors representing Matthew Stone and Duncan Clark of Renovare Fuels Ltd, both of whom were key players in, and founding members of, the Solari Energy scam.  SOS has now involved the Hong Kong Police in the investigation to check out claims made by Global Biofuels Group.

We expressed concerns over the actions of Matthew Stone and Duncan Clark to Syndicate Room, a company which helped them raise money for their latest venture – Renovare Fuels Ltd.  The solicitor representing Matthew Stone and Duncan Clark did not comment on the fact that both men were involved in establishing the Solari scam. The Solari scam was structured to ensure that 85% of investors’ money was deducted from their initial payments in “commissions and fees”. Only 15% was paid to the company that was supposed to deliver the returns for investors. This level of remuneration to greedy participants should lead all investors in ventures controlled by these people to closely scrutinise where their investment money has gone.

Investors in the Solari scam are represented by a UK law firm. SOS is keen to hear from any party who has evidence concerning the activities of any of the people mentioned in this blog.

We have published more information since Solari Energy – Update 2.

To view a more recent article on some of the people involved in the Solari Scam please click here. 

More information can also be found on this website HERE.

    Investigating investments is a regulated activity in the UK. We have chosen NOT to be FCA-regulated. As a result, British citizens are not allowed to view our content, use our services or benefit from the regular Scam Alert warnings on our blog page. This restriction only applies to citizens of Great Britain and does not apply to other countries. A lot of scam victims around the world regularly view our website and benefit from the information we provide. We are not required to check who visits the website and we do not record any information on anyone who clicks the "I CONFIRM" button below. 

    Safe Or Scam is prohibited by the Financial Services and Markets Act 2000 (and associated regulations) from allowing individuals ordinarily resident in Great Britain to access our pages or use our services. Therefore, if any one of the following three statements apply to you the FCA prohibition applies.

    1.  I am currently ordinarily resident in the Great Britain; or
    2.  I was ordinarily resident in the Great Britain at the time I made my investment; or
    3.  I made my investment through my company which is incorporated under the laws of England and Wales and Scotland.

    If NONE of the above apply you may proceed to have free access to the website by clicking the "I CONFIRM" button below.

    I CONFIRM

    Our Scam Alert articles are sponsored by a not-for-profit UK company which is permitted to provide services to residents of Great Britain. If you are prohibited from viewing this website because one of the statements above apply to you, but you would like assistance from the UK company, please complete the Contact Form below. Please note: if you meet the requirements to click the "I CONFIRM" button above, you do not need to complete any details below.   






      By Submitting you agree with the SOS Privacy Policy