For some time we have been working with a small group of people to bring an Essex and London Properties investor claim. We are now in a position to launch a limited action with a select group of investors who meet the specific requirements.
Essex and London Properties was a fraudulent investment which raised around £15 million from investors across the world. A UK Police investigation has concluded and, we understand, is being reviewed to determine whether criminal charges can be brought against some of the parties involved. The Police and the Official Receiver have restrained less than 15% of the amount invested so the indications are that investors will face a significant shortfall in any recovery.
We identified a party with sufficient resources to be able to pay a limited settlement in a non-litigation claim brought by a small group of eligible investors. It is highly unlikely that the intended opponent will face any criminal charges linked to the fraud and will therefore fall outside of any Confiscation Order which may result from a successful criminal prosecution.
Prior to launching this action Safe Or Scam commissioned a report from a leading UK barrister and a lawyer specialising in claims of this kind. The conclusion was that there is sufficient prima facie involvement by the opponent to justify a limited Essex and London Properties investor claim.
Unfortunately not all investors will be able to join the claim. This is because some may not meet the eligibility criteria or the group may have already closed once the target level is reached. We are expecting to reach this level very quickly from investors who have already contacted us. We will not be publishing detailed information on the claim because it is hoped the opponent will consider offering an early settlement in order to avoid any publicity that a protracted negotiation may attract.
The filing history of Essex and London Properties Ltd can be viewed via this Companies House Link.