Fraudsters
Was watching Spotlight on the other night and these fraudsters, or con men for the want of a better word were ripping people's life savings off with very clever financial techniques, with fancy offices and tailor made suits these guys had the appearance of a genuine profitable financial company with a great looking website and profitable returns promised!
The ploy was asking people for money which they said they would hold and if anything, lets say went tits up (not their words) they would still have their £10,000 safe, but should things work out as they see the market go then that £10,000 could turn into 20 or 30 grand very quickly, now obviously they went into a lot of detail with how they would do it and so on, but at the end of the day they were just stealing people's savings and they never paid it back as the contracts were made up in such a way that they held all the aces regardless of the promises that the initial loan was always going to be safe!
They were from Bangor and had set up previous companies under different names after each of them were closed due to financial irregularities. they have since the Spotligt show, set up in London under a different name.
I'm wondering how common is it to be fooled/scammed by these f**kers? They targeted small business owners and the likes of people with good jobs who had cash in the bank that wasn't making them money, so it wasn't your old granny without a pot to piss in.
I've no savings so they would be wasting their time on me ;D
I watched that alright but the investigation wasn't great and I thought there was a could be a whole lot more to the story.
From what I can gather they:
1. Take money off you (They call it a loan so they skirt around financial regulation)
2. Siphen some for themselves
3. Send statements/tell you about all the profits the money is making and hope you're just happy enough
Then when someone wants their money back they make it very difficult and in all probability are using someone else's deposits to fund it.
It really seems like some kind of Ponzi scheme and I'm not quite sure why there was no mention of forwarding to the police??
Also if someone is telling me of 250% profits after 6 months it would be a huge f**king red flag!!!
Quote from: screenexile on November 28, 2018, 02:13:24 PM
I watched that alright but the investigation wasn't great and I thought there was a could be a whole lot more to the story.
From what I can gather they:
1. Take money off you (They call it a loan so they skirt around financial regulation)
2. Siphen some for themselves
3. Send statements/tell you about all the profits the money is making and hope you're just happy enough
Then when someone wants their money back they make it very difficult and in all probability are using someone else's deposits to fund it.
It really seems like some kind of Ponzi scheme and I'm not quite sure why there was no mention of forwarding to the police??
Also if someone is telling me of 250% profits after 6 months it would be a huge f**king red flag!!!
It was a bit sketchy but people fall for the bigger lies its seems...
It doesnt make you feel good about using a financial advisor when those programs show the fraudsters!
As for not forwarding it on to the police it seems the devil is in the detail, as the contracts must but well set up!
If something seems too good to be true....you can be sure it is!!
You wouldn't catch us West of Ireland folks out with that sort of stuff ;)
Another DUP thread.
Quote from: Rossfan on November 28, 2018, 03:20:37 PM
If something seems too good to be true....you can be sure it is!!
You wouldn't catch us West of Ireland folks out with that sort of stuff ;)
There appears to be a conman masquerading as a solicitor in Ballaghaderren who was getting away with it for years.
Quote from: Maroon Manc on November 29, 2018, 09:09:11 AM
Quote from: Rossfan on November 28, 2018, 03:20:37 PM
If something seems too good to be true....you can be sure it is!!
You wouldn't catch us West of Ireland folks out with that sort of stuff ;)
There appears to be a conman masquerading as a solicitor in Ballaghaderren who was getting away with it for years.
But sure that's Mayo :P :P
You expect a Solicitor to be looking after your interests.
They do ad a rule but that buck......
FF background of course ::)
Quote from: screenexile on November 28, 2018, 02:13:24 PM
I watched that alright but the investigation wasn't great and I thought there was a could be a whole lot more to the story.
From what I can gather they:
1. Take money off you (They call it a loan so they skirt around financial regulation)
2. Siphen some for themselves
3. Send statements/tell you about all the profits the money is making and hope you're just happy enough
Then when someone wants their money back they make it very difficult and in all probability are using someone else's deposits to fund it.
It really seems like some kind of Ponzi scheme and I'm not quite sure why there was no mention of forwarding to the police??
Also if someone is telling me of 250% profits after 6 months it would be a huge f**king red flag!!!
A lot of rich, smart people and organizations fell for Bernie Madoff and his steady 10% annual "returns".
Even though no other legitimate set up anywhere was providing such a lucrative profit.
Quote from: J70 on November 29, 2018, 11:01:40 AM
Quote from: screenexile on November 28, 2018, 02:13:24 PM
I watched that alright but the investigation wasn't great and I thought there was a could be a whole lot more to the story.
From what I can gather they:
1. Take money off you (They call it a loan so they skirt around financial regulation)
2. Siphen some for themselves
3. Send statements/tell you about all the profits the money is making and hope you're just happy enough
Then when someone wants their money back they make it very difficult and in all probability are using someone else's deposits to fund it.
It really seems like some kind of Ponzi scheme and I'm not quite sure why there was no mention of forwarding to the police??
Also if someone is telling me of 250% profits after 6 months it would be a huge f**king red flag!!!
A lot of rich, smart people and organizations fell for Bernie Madoff and his steady 10% annual "returns".
Even though no other legitimate set up anywhere was providing such a lucrative profit.
Exactly!! How the f**k can you fall for 250% it's just not possible!!!
I have a mate who invested his life savings in Litecoin, saying it was going to be the next Bitcoin.
Hes now living on the streets.
Quote from: Christmas Lights on November 29, 2018, 01:40:30 PM
I have a mate who invested his life savings in Litecoin, saying it was going to be the next Bitcoin.
Hes now living on the streets.
Lol
Quote from: trailer on November 29, 2018, 03:41:01 PM
Quote from: Christmas Lights on November 29, 2018, 01:40:30 PM
I have a mate who invested his life savings in Litecoin, saying it was going to be the next Bitcoin.
Hes now living on the streets.
Lol
Just a quick question with regards investments in general. Is there much point investing money if you still have a mortgage? Would your return on paying the mortgage of earlier not be a lot better than most investments with less risk factor. I've always been one to chip away at the mortgage as much as I can to get it shifted before I'd consider investing in anything else. But maybe I'm wrong ?
I would be the same. It's a willing to risk thing and also then there's only so much you can pay off without being penalised.
Looking at the raw numbers you're likely gaining about 2.5 ish percent and you'd be hard enough pushed to get that kind of interest without it being a gamble.
Depends what you can find investment wise.
I remember reading that when the credit interest rates are so low you should considered using your savings to knock abit of your mortgage as it 'could' work out better in the long run. Rather than letting savings sit idle. As well as keeping a rainy day fund.
Not sure if there has been a topic on this or not but found this one. Would many people on here see scams or frauds. I've had 3 or 4 in the last year eg dd done through sky TV, mobile phones trying to be set up etc. Pain in the back side getting them resolved but after the most recent one I think I'm going to change banks. Not sure if this will work though. Thankfully 8 haven't lost any money but happening a little too often for my liking. Any experiences of this or advice?
How do you think they are getting details? Has it specifically been one account?
I had my bank details leaked on the "dark web" by a previous workplace and they setup an equifax account which alerts on fraud. I haven't closed and opened because of that but if I hadn't that I would have amended my account. That would only work if it's one account though.