In an effort to dissuade investors from taking action to find out where their money has gone (£76m according to Carlauren Group, but closer to £90m according to our estimates), Carlauren Group has built a new restricted-access, members-only extension to their website which they call the “Carlauren Owners Lounge”. Catchy title.
We took a look and we had to smile. Carlauren Group asks investors a couple of questions. They are:
- Do you agree to pool studio income from active sites in order to share revenues among all studio owners while the company builds and opens its portfolio ? Current stats based on studio owner replies: YES 85.9% NO 14.71%
- Do you agree to the current management in place headed by Mr Sean Murray and his team with the addition of 4 board members to act on behalf of studio owners and a newly appointed Financial Director to build on the business plans in place and moving forward ? Current stats based on studio owner replies: YES 91.18% NO 8.82%
Then there is the nasty little sentence at the bottom designed to trick investors into appearing to support the existing Carlauren management team. “By filling in the information above you are agreeing to the future plans for the Carlauren Group of companies”. This is another example of Carlauren misleading investors. Let’s assume a lot of Carlauren Owners vote NO to question 1 and NO to question 2. Carlauren’s nasty little statement is that just by making a vote, no matter whether it is YES or NO, they are counting that person as agreeing to the future plans for Carlauren Group.
So what is this about and is it true ? Well, Carlauren knows that several hundred investors have signed up to take action against the companies and to investigate where the £76m (or £90m) has gone. Sean Murray knows that the odds are stacked against him so he is attempting to make it look as if he has investor support. It doesn’t work because a very large number of investors which the company claims is supporting existing management have already signed up to an action requesting that the management be replaced by administrators in order to protect their investment, maintain the operation of existing hotels, secure the company assets and investigate where the money has gone.
A couple of questions arise from this latest attempt to mislead investors. They are:
- Where is the money coming from to enable Carlauren to build and develop its portfolio ? I’m sure many investors have seen the video of Andrew Jamieson, the Chief Executive Officer of Carlauren Group, informing staff who had just been told they have lost their jobs “The money’s gone. It’s all gone. All gone”. Sean Murray later brushed this off claiming Andrew Jamieson was suffering from stress.
- What happened to the old Financial Director ? He might be thinking he can slip quietly away now that the money has gone. We think the four new proposed board members would like to speak with the old Financial Director to ask him where the money went. However, we suspect the four new board members will be very carefully selected by Sean Murray so that they don’t ask difficult questions like that.
What’s next in the Owners Lounge ? We have heard that the next two questions for Carlauren Owners are going to be:
- Are you totally happy with your Carlauren investment and do you feel that the management team has always told the truth ? Current stats based on totally fake studio owners replies: YES 99.8% NO 0.2%
- Would you recommend a Carlauren Group investment to your friends and families ? Current stats based on totally fake studio owners replies: YES 100% NO 0%
“By filling in the information above you are agreeing that we can take your money and do what we want with it. We can buy anything that takes our fancy and spend as much as we like on ourselves. We can leave investment properties in a derelict state, not provide any care services despite selling the bedrooms to you on that promise and we can stop paying you any returns whenever it suits us”.
We always recommend investors DO NOT accept a change of their contract terms when a company has been exposed and is in trouble. Investors often do not realise they are signing away their right to prosecute both the company and the people involved in the scam when they accept a new contract. If they have any doubt at all we recommend an investor seeks legal advice before accepting a new or amended contract.
To view our previous post on Carlauren Group click HERE