Phenco Ltd has lost a case brought by a Safe Or Scam client in the High Court in London and will now be wound up by Order of the Court.

Phenco was one of the five oil scam companies controlled by Martin Finch, Glenn King and David Hyman. The Order was issued on 10th July 2019.

On 11th July 2019 Martin Finch tried to claim he had informed investors in February 2019 of a re-organisation of the oil contracts. Of course, none of the investors received this fictitious notification in February. It is entirely false.

During May and June 2019, Martin Finch stopped communicating with investors. It could be alleged that he was off trying to falsify records to throw everyone off the scent, but we wouldn’t allege that.

Any person involved in a fraud of this kind of size would be in serious trouble. They would be better holding their hands up and owning up to what they’ve done. It is never wise to try to cover up after the event because you will always be found out and then you are as guilty as the people who benefitted the most.

It appears that the people involved in oil scams are so toxic that even their solicitors stop working with them.

We’ve done a good job of bringing the Phenco scam to an end. Phenco Ltd will now be wound up and we expect other associated companies to follow. Tristone Holdings and Venture Equity are other oil scams run by the same people. Now we can move to the next phase which is to gather evidence of fraud and bring in our funders who are keen to support private prosecutions. Phenco may not realise it but it will have left a trail. Scammers always do.

To read more on Phenco, Osage 1, Kansas MB, Kansas B2, Sooner Energy, Tristone Holdings and Venture Equity please visit this website

Please also visit our blog page to catch up with our previous blogs on this company and our other investigations.