TSM Corporate Services Ltd has defaulted on payments to investors. The company started life as M Cullum Consultancy Services Ltd and then became MCI Sales Ltd before finally settling on its current name. To many investors it was known as ‘MCI Developments’ and has been owned and operated throughout by Matthew Cullum who is shown above.
Matthew Cullum and TSM Corporate Services Ltd are well known to us. Matthew Cullum, along with his sidekick Thomas Scotland , has sold many scams to investors over a long period of time. Some of those are mentioned in our blogs e.g Win River Developments, St Helier Capital Management, Essex and London Properties and so on. See picture of Thomas Scotland below.
Every once in a while the people selling scams change tack and begin to view it as a training opportunity. They think to themselves “Well, if that guy can take that much money from investors and get away with it why can’t I ? I could set something up myself and I’ve even got a template of their contracts so I don’t need to spend any money to produce my own”.
That’s what happened with Matthew Cullum. Having sold 2-year and 3-year bonds on behalf of scammers, he graduated to forming and selling short-term bonds for his own companies. Bonds were produced in the names of MCI Sales Ltd, TSM Corporate Services Ltd and MSE Managed Services Ltd. One of our clients is taking MSE Managed Services Ltd in court later in January, but that’s an article for another day.……
Here is a typical example of how Matthew Cullum and his family operate.
In May 2015 a lady was persuaded by Matthew Cullum and Thomas Scotland to invest £10,000 in a 2-year bond from MCI Sales Ltd (as it was at the time before it became TSM Corporate Services Ltd). The contract committed MCI Sales to pay 8% (£800) on the date of signing of the contract i.e in May 2015, followed by another 8% in May 2016. The capital sum of £10,000 would be repaid a year later in May 2017. Simple enough.
The investor, now a Safe Or Scam client, did not receive £800 in May 2015 so she chased the company for payment. She chased them for payment for the whole year until May 2016. She got nowhere. At that point another £800 was due. It never arrived. More chasing and another 12 months passed without any payment. She was now owed £1,600 in unpaid interest and it was May 2017. The two year term had completed and the £10,000 was due to be repaid. Sure enough, MCI Sales Ltd didn’t repay her. In September 2017 MCI Sales Ltd changed its name to TSM Corporate Services Ltd, presumably in the hope that investors would think MCI Sales no longer existed.
In December 2019 this lady came to Safe Or Scam. This was 4 years and 7 months after she first signed a 2-year contract. She had still not received a single penny from TSM Corporate Services Ltd. They clearly had no intention of paying her. It transpires that Matthew Cullum used the client’s money for a property venture with his father John Cullum.
In early December 2019 we wrote to Matthew Cullum at the registered office of TSM Corporate Services Ltd. We left him in no doubt as to what we thought of him and his father. We made clear the steps we proposed to take to recover our client’s money.
Our client could not afford legal fees to pursue her claim in court which is why this had dragged on so long. They knew her financial position. We told Matthew Cullum that if he did not make payment before the end of December Safe Or Scam would pay the legal fees for our client and we would take TSM Corporate Services Ltd to court. That is not something we normally do, but this case was very concerning. It was theft – pure and simple, dressed up to look like an investment proposition. They set out to steal £10,000 from a vulnerable person and they must have thought they had gotten away with it. They haven’t.
We will pay our client’s court fees. We will pursue Matthew Cullum and his father John Cullum for the full amount + interest + costs and will update our blog page as the case proceeds.
To view our previous article on MCI Sales Ltd please click here.
To view a recently updated article on TSM Corporate Services please click here.
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