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
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.
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