Porterfield Financial Holdings Scam Alert.
An organised crime group calling itself Porterfield Financial Holdings is carrying out a follow-on-fraud against people who invested in Green IS Group Ltd (“GIS Group”). GIS Group sold bonds to ordinary retail investors to raise funds for its alleged forestry operation in Brazil. The company was wound up by the High Court on 16th March 2022 and is now in the hands of the Official Receiver.
The Porterfield Financial Holdings scam model is one that we have reported on many times. This scam group uses different company names and slightly different branding each time, but the documents are always the same and the scam has been going on for years. The scam model they are using is the one where the scammers pretend to be working with, or pretend to be, the Official Receiver.
They claim to be holding funds (in this case £22.2m) which is available for distribution to investors. All the investors have to do is pay an upfront fee. As we have said before in other articles, the Official Receiver or any other liquidator WILL NEVER charge an upfront fee to any creditor.
We have copies of the documents that are being used in the Porterfield Financial Holdings Scam. We have seen identical versions before because the documents never change. Porterfield has a scam website which follows the same format as the other scam websites they have used in the past. Here is an excerpt of some text from their Home Page.
THE OPPORTUNITY
Porterfield Financial Holdings has reached demanding valuations, fuelled in part by central bank policies.
Idiosyncratic opportunities are rising in an increasingly late-cycle market exhibiting rising dispersion and periodic bouts of volatility.
Credit and equity events are ever-present in the market and provide natural de-correlation to market beta.
Such a backdrop requires a dedicated portfolio approach and asset class flexibility to exploit the opportunity set, navigate market stress and deliver uncorrelated returns.
Here is a link to an article we wrote in August 2021 on a follow-on-fraud called Premier Capital Finance – LINK. The documents are identical to those used by Porterfield and here’s the text from the Premier Capital Finance Home Page:
THE OPPORTUNITY
Premier Capital Finance have reached demanding valuations, fuelled in part by central bank policies.
Idiosyncratic opportunities are rising in an increasingly late cycle market exhibiting rising dispersion and periodic bouts of volatility.
Credit and equity events are ever present in the market and provide natural de-correlation to market beta.
Such a backdrop requires a dedicated portfolio approach and asset class flexibility to exploit the opportunity set, navigate market stress and deliver uncorrelated returns.
It’s identical. And just to highlight the point here’s another piece of text from a different scam website which goes under the address of capfinuk.com – LINK to scam website. It was launched in February 2022:
THE OPPORTUNITY
Capital Finance has reached demanding valuations, fuelled in part by central bank policies.
Idiosyncratic opportunities are rising in an increasingly late-cycle market exhibiting rising dispersion and periodic bouts of volatility.
Credit and equity events are ever-present in the market and provide natural de-correlation to market beta.
Such a backdrop requires a dedicated portfolio approach and asset class flexibility to exploit the opportunity set, navigate market stress and deliver uncorrelated returns.
It’s also identical. This organised crime group is working out of a call centre and doesn’t like to have all its eggs in one basket so it often runs several follow-on-frauds at the same time. This is another trait that we see quite often in follow-on-frauds.
Over the next few days we’ll issue another Scam Alert on a follow-on-fraud which started in January 2022 and is being operated by the same people. We will publish the documents they are using so readers can compare and see that they are exactly the same. Not only that, but the phone number for this second scam is the same phone number used by Porterfield Financial Holdings !
Porterfield Financial Holdings Scam Alert.
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