clear view trading

European Property Coin – 6

European Property Coin – 6 150 150 Adam

We are pleased to announce that, at a hearing in the High Court in London on 27th March 2019, the Judge granted a winding up order over Clear View Marketing Services Ltd, the operator of the scam digital currency known as the European Property Coin.

Over the past year Safe Or Scam has attracted enquiries from more than 50 investors who purchased these fake coins. We worked closely with two investors to have their debts recognised by the UK courts and then to progress their cases through the UK legal system so that they could make an application to wind up the company.

The criminals behind Clear View Marketing Services (trading as Clearview Trading) knew this was coming. They proceeded to declare themselves as being in liquidation and they advised investors to deal with a fake liquidation company. That fake liquidation company was called Asset Recovery Network. There is a genuine company called Asset Recovery Network (UK) Ltd. We spoke with the director of the company and are satisfied that the crooks were just using their name. The director has since filed a report with the Police and we are helping them with their enquiries into the follow-up scam.

The people behind the fake Asset Recovery Network advised investors that their coins had been sold and they had made a substantial profit. It is the usual follow-up scam where they ask investors to pay a fee in order to release the money. Once that fee is paid the money never arrives.  

When a company is wound up the Official Receiver, a UK government department, is appointed to handle an investigation into the company’s affairs. The Official Receiver has the discretion to appoint another licensed insolvency practitioner to take over the investigation. We have proposed to investors that they consider requesting the OR to appoint a third party liquidation firm which has more substantial resources than the OR, including a forensic accounting team which is likely to be needed in this case. We have now identified 32 UK bank accounts used in the scam.

The chances of recovery are not great. However, these scams cannot be established without the support of sales agent companies, accountants and banks. If the insolvency practitioner suspects collusion in the fraud or unjust enrichment he can demand the repayment of those sums and recommend a prosecution to the Police. We will be looking closely at the legal rights for confiscation of assets. The 32 bank accounts will also bring some of the crooks out into the open for criminal charges so we are hopeful that some of the money can be recovered.

European Property Coin – 5

European Property Coin – 5 150 150 Adam

Safe Or Scam has been working with European Property Coin investors to explore ways to expose the EPC scam and to hold the people involved to account.

A hearing has been scheduled at the High Court in London for 27th March 2019 at which our principal investor will present evidence against the company operating the European Property Coin scam – Clear View Marketing Services Ltd. This company also goes under the name of Clear View Trading.

We have now identified 29 UK bank accounts associated with the scam and we expect to be able to identify the owners of those accounts so that prosecutions can follow. This includes accounts operated under the name Asset Recovery Network, a fake liquidation firm which persuaded investors to send more money in order to release non-existent funds they claimed to be holding for them. Many of these bank accounts are personal accounts owned by scam salespeople.

We will update investors once the judgement has been given.

You can read the previous blog post on European Property Coin HERE

Asset Recovery Network – 1

Asset Recovery Network – 1 150 150 Adam

Asset Recovery Network UK is a recovery room scam. This means that it is brought in after the main scam has been exposed and it pretends to be able to recover some or all of a person’s investment. The truth is that it is part of a follow-up scam and it’s sole aim is to trick investors into paying more money.

Recovery room scams tend to focus on persuading investors that their worthless investment has suddenly become a desirable asset and they have found a serious buyer who wants to buy the investment. There is never a buyer for the investment.

The investor is sold a story about this mysterious buyer wanting to pay top dollar for the investment but there is just one problem. Before he can complete on the purchase he needs the investor to pay either the sales commission or the due diligence fees or the tax bill or the admin bill or the legal bill or the platform listing bill or anything else they can think up. Quite often the investor is asked for a small sum which he/she is happy to pay. Then they are asked to pay another sum and then another sum and then another sum and so on. Once the investor pays the first sum they are on the hook and keep paying because they don’t want to lose what they’ve paid. The reality is that they lost it the moment they paid over the money. Each time the payment keeps increasing with larger and larger sums being asked for. One of our clients invested £30,000 in a scam investment. He was approached by a recovery room scam in which the company told him they had a buyer. He would only have to pay £700. He paid them. By the time he made contact with us he had paid over £28,000 to the recovery room scam. They were now asking for £14,000 for the next instalment stating that if he didn’t pay he would lose the money he had already paid. Fortunately we stopped him making that £14,000 payment but we were too late to stop the £28,000.

Other recovery room scammers known to us include:

Cordell Groves, Phipps Clarke Grainger, PV-Merge, Barola Asset Management, and NLC Partners.

Asset Recovery Network UK has an unusual twist on the recovery room scam model. They pretend to be Insolvency Practitioners i.e the liquidators of the scam investment company.

The original scam company pretends to have placed itself in liquidation and to have appointed Asset Recovery Network UK to handle the liquidation. ARN UK will apparently sell all the assets of the scam company (which are normally a big fat zero) and pay out the proceeds to investors. Asset Recovery Network UK is apparently able to turn worthless assets into solid gold. According to ARN UK, they will be able to sell the assets and pay everyone back with a huge profit. There is just one problem…….. investors will have to pay something upfront first. It doesn’t matter what reason they give you for needing your money – IT IS A SCAM.

If you pay them you will never see your money again. 

European Property Coin – 4

European Property Coin – 4 150 150 Adam

European Property Coin is a scam digital currency investment operated by Clear View Marketing Services Ltd, otherwise known as Clear View Trading. In January 2019 Safe Or Scam emailed investors who had contacted us over the previous nine months. We requested information on the bank accounts into which investors had been asked to pay their investment money. It has taken us a long time to break through the “data protection” and “client confidentiality” excuses that banks use to protect the identities of scammers, but we have finally managed it in the case of European Property Coin.

Investors are often shocked to learn that neither their own bank nor the recipient’s bank will tell them who owns the account that received their investment money. Even if the investor acts immediately and is successful in the long and arduous process of recovering money, neither bank will tell them the name of the account holder. By protecting scammers in this way the banks are preventing investors from being able to take any action in the courts to recover their money. It is not possible to take a party to court if you don’t know who they are !

It is quite an achievement for us to have found a way to lawfully force disclosure by the banks. So.…. going back to our request for information on the banks and bank accounts used by the Clear View scammers, we were expecting to find that they had moved around a bit. That is a standard practice by scam companies i.e to use an account for a while, close it down and then open a new account at another bank. Clear View has been scamming investors for almost three years so we expected to uncover maybe five or six accounts. At this moment in time we have discovered twenty one bank accounts. We expect that number to increase as some investors have yet to provide information.

The pleasing thing for us is that Clear View Trading / European Property Coin is a clear fraud. This means that the owners of those accounts were either founders or accomplices in the fraud. They will be facing criminal charges and that tends to loosen the tongues of those who don’t fancy going to prison. In amongst those accomplices are at least two accountants. One of them is Yasir Gul of G. and S. Accountants, formerly of Know Tax (High Wycombe) Ltd which was dissolved without filing any accounts. Mr Gul is an accountant (allegedly) and will know that it is a legal requirement to file closing accounts when a company is dissolved. That must have slipped his mind. Not a good advert for someone who claims to be an accountant.

The other accountant is Graham Andrew Arnott of Jade State Wealth. Mr Arnott seems to be a very bad judge of character because Jade State Wealth was involved with the £13.5m Essex and London Properties scam which was the subject of a fraud investigation. He also provided services to the Osage 1, Phenco and associated oil companies scam. These oil companies took in at least £14.5m.

To read the previous blog on European Property Coin, click here

To read the previous blog on Essex and London Properties click here

To read the previous blog on Osage 1, Phenco and associated oil companies click here

To view the separate stand-alone websites for each of these investments click on European Property Coin / Essex and London / Osage 1 and Phenco

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