Cameron Farley, FSA & Grant Thornton

RayWolfe

wantanswers wrote: »

However my lack of understanding in this case says I should wait for proof before judging.

Please will you. Please.
Get a grip of yourself man, you're constant vomiting of "information" here is becoming tiresome. People have tried to guide you, educate you, help you, and still, the whining continues.
You know who lost the money, Cameron Farley!

wantanswers

Hi Ray

Wondered when you would re appear again.

Reaper and Rollinghome are not happy with the questions the FSA have posed so at least that’s a plus.

Of course I read Cameron Farley has lost the money it’s well posted. Only hope proof is available.

Do you want a LINK to the statement??

wantanswers

Hi Ray again

I would not say I am “vomiting” information I only want answers and "NO" one is prepared to give me any, including you with vile statements such as “vomiting” which sounds very unprofessional coming from a professional and well respected site.

Rollinghome

Reaper and others have been extraordinarily patient in giving their time to explain to you and yet you still appear unable to understand. It seems that some people are beyond being protected by any authority.

’I hope,’ said Arthur, ‘that he and his dupes may be a warning to people not to have so much done with them again.’

‘My dear Mr Clennam,’ returned Ferdinand, laughing, ‘have you really such a verdant hope? The next man who has as large a capacity and as genuine a taste for swindling, will succeed as well. Pardon me, but I think you really have no idea how the human bees will swarm to the beating of any old tin kettle; in that fact lies the complete manual of governing them.’

(Of Ponzi swindler Mr Merdle from Dicken's "Little Dorrit", 1857.)



.

wantanswers

I thank Reaper and others for their patience, but I’ve learned from experience WHO I AGREE with and before you say it that includes recent events.

I’ll fill in one answer from the questions and answers SET by the FSA (the dumb one). Now if you want to be constructive, instead of mocking people who are facing financial difficulties see if you can get the answers to the other questions, not just copies mind. Also thanks for that little bit of Dickens Education, however bit before my time I’m afraid and not much use to the 1000’s in current difficulties. (Bet Arthur was a smart ar--).

xxx was paying my interest on time and as agreed – why did you intervene?
Investors were being paid £ a month for every £ they invested with , which on a yearly basis is more than % interest. However, according to information provided by Mr , the income from the held by Ltd was substantially less than the amount paid its investors. This meant that some of the money invested with went towards paying interest to other investors, rather than purchasing . So, while the debts steadily increased, xxxxxx. Because of this we took action to prevent more breaches of the Act and to ensure this shortfall did not continue to rise.



Also If I can just add another question.

The U.K. Financial Services Authority informed RBS that it was looking into the bank’s compliance with U.K. money- laundering rules from December 2007 to December 2008, RBS said in a report to investors dated Nov. 27. The latest probe means RBS is the subject of at least four FSA inquiries.

Is Cameron Farley one of the four?

Reaper

I'm going to duck out for a while until some genuinely new information gets posted rather than rambling musings and noise.

Wantanswers - why not have a read of the answers to the questions for the other company you posted. Many of the questions you have are going to have very similar answers.

As to why they have not done the same in your case my guess is that they can't say much when there is legal action pending, which could be both that against the Farleys and your own groups counter-productive plan to take the FSA to court.

wantanswers

Sick of reading them Reaper and they'll probably be around for the next hundred years.

Anyway it's been an experience more ways than one.

I'll join you now and don't say it, I know when i'm not welcome.

wantanswers

Lifemark's demise is linked to another failed investment company - Keydata. This was founded by entrepreneur Stewart Ford in 2001 but went into administration last year. Thousands of its investors are now being compensated by the Financial Services Compensation Scheme.

Keydata was authorised and regulated by the FSA but it passed cash to other companies to invest, most of which WERE NOT FSA-regulated. Some of these companies - including Lifemark - were at best ill-managed and at worst trading irregularly.

Lifemark, based in Luxembourg, issued bonds that were bought by money entrusted to Keydata by British savers. The bonds were backed by American life insurance policies, which are supposed to be tradeable, comparatively safe assets.

The FSA, in its supervisory role of Keydata, should have known all of this and been satisfied that Keydata was meeting its obligations to savers.

It's Going to be interesting to see how they sort this mess out?

skateyuk

Wantanswers,

have you any more information on this case in terms of FSA info? I cant seem to find any anywhere.

It's been nearly 18 months now and no sign of the farley's being taken to task which i find very strange.

wantanswers

Skateyuk


It's been nearly 18 months now and no sign of the farley's being taken to task which i find very strange.

Strange indeed when the FSA representative has allegedly already stated that Farley traded the £10million after the freezing order and its plastered all over the internet by a mutual acquaintance of ours ENO ROTSEVNI that the money had been lost on two trades.

(Cameron Farley has been subsequently closed down by the FSA for taking deposits unlawfully and they froze all their accounts and it looks like investors have lost most of their money, however when we questioned Stephen Farley recently about the option and why this does not seem to have expired he confirmed to both myself and two other colleagues that it was not really an option that we all thought we had invested in and the money had been lost on two normal trades) or was it 51 according to GT report, bit confusing!!!!!

For the life of me I can’t understand how Farley has not at least been reprimanded for breaking the terms of the freezing order?

To answer your question, it’s relatively quite at the moment and the information that’s is available is NOT for public forums and anyway I don’t want to add to Reaper and his mates problems they’ve got enough hump as it is.

AIFA (Association of Independent Financial Advisers) have already made it clear to the FSA/FSCS that they plan to legally challenge the £43 Million levy that they are being asked to cough up for this fiasco (Keydata).

This is clearly a regulatory failure and may go some way in explaining why the head of the FSA recently resigned?

Just guesses on my part Skateyuk:

The police are still carrying on with their investigations.
No doubt their investigations will take them to New York to try and establish evidence about the trading and those elusive trades. But bare in mind the FSA representative has ALREADY ALLEGEDLY stated Stephen Farley made them and so has Eno Rotsevni. (quiz)
No doubt the police will talk to the FSA, Grant Thornton and the Aquaintance.

LAST but not least they will probably interview SF.

Anyway that’s about it for now but if you need any other information contact CFAG Admin I’m sure they will put you in touch.