david alexander hyman

Phenco Oil Scam

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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

To view our more recent update on the Phenco oil scam please click on this link.

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

 

Scam Alert

Osage 1 Phenco Oil

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The five oil companies of Kansas B2 Project Ltd, Kansas MB Project Ltd, Sooner Energy SPV-1 Ltd, Osage 1 Ltd and Phenco Ltd, fronted by Martin Finch but controlled by two shadow directors, Glenn Jamie King and David Alexander Hyman, use a company called Chainbox Technology to make alleged royalty payments to investors. Chainbox is part of a portfolio of firms owned by the Spurling family. They also own Spurlings Accountants Ltd.

In the cases of Osage 1, Phenco and Sooner Energy shareholders, no payments have been made for nine months. The excuse given to shareholders in all three companies is that Martin Finch has been unable to find “a platform” to be able to make the payments. This is very interesting because Kansas B2 Project Ltd and Kansas MB Project Ltd shareholders received their payments in January this year. They were paid by Chainbox Technology – the company with just one director, Terry Frank Joel Spurling, aged 81.

If it isn’t “platform issues” it is blamed on the banks. We all know how impossible it is to transfer US dollars from the USA to the UK and how it can easily take nine months. The USA is recognised as a third world country with absolutely no bank controls, horrendous governance over funds, a reputation for money laundering on a massive scale and a country that just cannot be trusted. It is right up there with Somalia and Colombia for illicit transactions. Martin Finch would have investors believe that it just isn’t possible to transfer money from the USA to the UK.

So how is it possible for shareholders in the two companies which allegedly have oil operations in Kansas to be paid, yet shareholders in the other three companies haven’t been paid ? Perhaps that question should be levelled at Chainbox Technology. They seem to have stepped into the shoes of the previous “money man”. The previous dodgy partner of the oil companies was Jade State Wealth Ltd. This company will be well known to people who have lost their total investments. It has been involved in more scams than we can count. The last one, Essex and London Properties Ltd, was probably their undoing. That company has been the subject of an investigation by the Fraud Team at Essex Police. Not by coincidence we believe the people involved in the oil companies are well acquainted with Essex Police.

As mentioned in a previous blog post Glenn King, David Hyman and Henry George Berry are raising money for a new oil venture called Tristone Holdings. We expect some of that money to be siphoned off in the direction of Osage 1, Phenco and Sooner Energy to pay shareholders because there is a lot of unrest amongst shareholder in those three companies. Of course, siphoning off money like that would be illegal but we doubt that would bother them too much.

Martin Finch is still claiming, nine months on, that it isn’t possible for a US company to transfer money to the UK. What a ridiculous statement. He is steadfastly refusing to provide any information on company performance to shareholders, including refusing to tell anyone in Osage 1, Phenco or Sooner Energy the total amount of royalties the various companies are owed or the amount that each individual shareholder is owed. He just says that payments are allegedly held in limbo because of banking compliance.

If you have received a payment from Chainbox Technology or you would like to know whether they are the platform which is holding up your payments you can contact them at:

Chainbox Technology Ltd, Unit 9, 97-101 Peregrine Road, Hainault Business Park, Ilford, IG6 3XH.

Alternatively, give them a call at Spurlings Accountants. Their number is 02085 533071. If you would prefer to drop in they claim to be at 112b High Road, Ilford which has an entrance at the side of the building in Chadwick Road.

We would love to hear what they have to say about their involvement with Finch, King and Hyman.

If you would like to contact the Managing Director with questions about their involvement you should email david.spurling@btconnect.com . We don’t think it can be a very big firm because most firms, even small ones, have their own domain name. Sometimes very small firms are grateful for any kind of business, no matter how shady. The trouble is that it always backfires on them in the end.

To view the next article in the saga of the five UK oil companies please click here.

 

Busy Start

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The new year is only nine days old and our investigations into dodgy investments are back into full flow.

A low-cost legal action which was started in December against Clear View Marketing Services Ltd / European Property Coin took another step forward this week. We will be able to update investors on that at the end of the month.

The same is true of our action against a company involved in the huge StratXMarkets binary options scam. Lawyers representing the defendants in the claim appeared for the first time today. We think they will struggle to convince a court of their client’s innocence. Our client invested several hundred thousand pounds and they have failed to adequately respond to his claim or to explain their involvement. We think that as a result of our investigations this could easily end up with criminal charges being raised against the perpetrators.

Another conference call is arranged with a UK solicitor representing property owners in the Prosperity site at Bentley Court and Parkwood Court in Keighley. The call will be on 10th January where the solicitor will give an overview of his experience and an outline of the case against the opponents.

We have finally put a proposal to investors in the Essex and London Properties scam. It has taken a long time because of a Police investigation and the involvement of the Official Receiver but both a barrister and a UK solicitor believe there is a viable case against some of the parties involved. Conference calls with the solicitor are being set up so that investors can ask any questions they wish to raise.

The OurSpace Workspaces Ponzi Scheme investigation is going well. The administrator appointed by Kevan Halliwell / OurSpace Investments Ltd (Malta company) remains reluctant to answer straightforward and direct questions. We have had no answers to three emails, the earliest one was sent on 11th December 2018. In our opinion they are administrating a company that does not own the assets which Halliwell claims it does. Halliwell and Douglass tried to stitch up investors by removing the assets from investor control but they messed it up. This one will run for a long time. We asked the administration firm to advise us of their first contact with Kevan Halliwell and OurSpace. We asked if it was in 2017 when the asset transfer was being considered. They have not yet replied.

The Final Letter Before Action was issued to Simon Whittley of St Helier Capital Management Ltd, Win River Developments Ltd, Hawksbill Property Holdings PLC and others. There’s a lot of scams linked to one person. This one is another case in which the defendant has no viable defence. We are looking forward to investors having their day in court with this one. Even his long-term accomplice Simon Paler has been distancing himself from the companies in recent months.

Finally, we have held discussions with professional firms and investors over the action which can be taken against the oil investments run by three men – Martin Finch, Glenn Jamie King and David Alexander Hyman. The oil investment companies are Osage 1 Ltd, Phenco Ltd, Sooner-Energy SPV-1 Ltd, Kansas MB Project Ltd and Kansas B2 Project Ltd. Our investigations are continuing but we believe there is light at the end of the tunnel for investors.

We have probably missed a few off but it has been a very busy start. Our aim is to help ordinary investors recover some of their money from scammers and we are having some success.

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