Cameron Farley, FSA & Grant Thornton

ritchieboy

No you are right & I did keep that in mind when reading them. To be honest thats why I haven't been near them until now and only spoke to a couple of other investors.

I think I do need to get legal advice now, or try and get any and all the paperwork I am entitled to as an investor from the courts and FSA. I am trying to get my bank statements to get the date I transfered the money to CF. I am sure it was after the 2nd of September. If that will count for anything.

I guess I have to keep trying with the FSA for now. But not pinning my hope's on anything, but I have to keep trying..............

If a court order was made to stop trading & he continued, isn't that illegal, or something he should have been dragged over the coals for??

agsnu

ritchieboy wrote: »

If a court order was made to stop trading & he continued, isn't that illegal, or something he should have been dragged over the coals for??

Yes. In fact offering financial services without being regulated is illegal. But that won't help you get your money back.

wantanswers

Copy of citation you will note the FSA were concerned about the company in June 2005 visited them in 2007 then went to sleep until 28 July 2008 when they finally decided to investigate then froze the company 2 September 2008, but not happy with freezing the companies assets the FSA went back to sleep again and managed to let a further £10 million of our money drift into space.

CITATION
Edinburgh, the SiXTeEuT !1 day of October, 2009.
To: Stephen Antonia Farley, 15a Dublin Street, Edinburgh, EH1 3PG.
IN

8. That the petitioner has had reason to be concerned about the activities of the
respondentsi,n cluding the information given by them in responset o the petitioner. In
about June 2005, the petitionerm ade investigationsw ith the respondentsin respecto f
possible unregulated activity. In the course of those investigations, the petitioner
discovered that the first respondents' website included a claim that the second
respondenth ad completeda Securitiesl nstitute Certificatei n InvestmentM anagement
whereas the petitioner's inquiries revealed that he had failed these exams and did not
hold such a certificate. On about 19 December 2005, the second respondent advised
the petitioner that he had become an authorised representative of Personal Touch
Financial ServicesL td. Subsequentlyin quiries revealedt hat PersonalT ouch Financial
Services Ltd had rejected his two applications for authorisation. At an unannounced
site visit on 4 April 2007, the second respondent initially advised the petitioner's
officers that all foreign exchange dealing for clients was organised through a US
company called Gain. The second respondent subsequently admitted that the first
respondents carried out some foreign exchange dealings on behalf of clients. In an
application for authorisation submitted to the petitioner on behalf of a related
company, Cameron Farley Investments Limited, the second respondent intentionally
failed to disclosep reviousi nvestigationsw hich the petitionerh ad had into his business
activities. The petitioner has also become aware that the second respondent has a
conviction for theft from 1991 and served a period of imprisonment following a
conviction for fraud in 1993.

wantanswers

From: "Rachel Hallett" <rachel.hallett@fsa.gov.uk>
> To: "Stephen Farley" <sfarley@cameronfarley.com>
> Date: Thu, 10 May 2007 16:15:26 +0100
> Subject: FSA meeting - follow up actions 10/05/07

FSA requests:

3) Written confirmation of your undertaking to cease accepting
> or conducting further FOREX business until the matters have been
> resolved to the satisfaction of the FSA
>
> 4) Written confirmation of your plan of action in terms of
> consulting experts for advice on the issues raised by the FSA,
> anticipated future action plan etc
>
> 5) Written confirmation of a suggested banking arrangement for
> holding client monies in a secure environment until the matters have
> been resolved to the satisfaction of the FSA.




ZZZZZZZZZZZZZZZZZZZZZ!!!!

wantanswers

15-10-2007

Dear Sir/Madam,
>
> Please find attached a letter confirming the receipt of the
> application for FSA Authorisation. In addition, please find attached
> guidelines of the process from this point.
>
> Kind regards
>
>
> Mai Keiller
> Authorisations Department
>
> <<ASF4 What happens now.pdf>> <<Cameron Farley Limited 473885
> Acknowledgement letter -20071015.doc>>

Confused I sure as hell am.

Reaper

Not sure where you found that email from but they are not authorised under that name or that number. You see see for yourelf here:
http://www.fsa.gov.uk/register/firmSearchForm.do

As I understand it the company fraudulently claimed they were registered when they never have been.

ritchieboy

For me personally I am confused as to why everything has happened with the creditors seemingly being a distant thought to the FSA, Grant Thorton & screamingly obviously Stephen Farley!

As far as I know, there has been no creditor meeting, no contact from the FSA & I had one report from GT & they have failed to reply to my questions.

ritchieboy

Is there someone taking this on for the creditors? Stupid childish Twitter or facebook pages or bitter forums are no help. Confirmed facts, solid legal advice is the only faint glimmer of a chance of getting anything back.

ritchieboy

E-mail from Stephen Farley



Documents attached have been recovered from the Internet Cache by a computer expert as all of Cameron Farley documents and my personal documents have been taken by the FSA back in September 2008. The objective is to shed light on some of the grey areas that have existed throughout this saga. I will forward copies (as documents become available) to Cameron Farley clients directly by email and will not post these on any forums. Please reframe from copying, distributing or publishing these documents as you may be breaching copyright of the original owners (3rd party service providers to Cameron Farley).

Dear CF clients,

On September 2nd 2008, all our lives were changed forever following the now well publicised actions against Cameron Farley. I appreciate that I have given many promises of closure which to date have not materialised. I was under the impression that it would have been evident to those concerned that Cameron Farley was a viable business that was trying to put its regulatory house in order and had the full support of the regulator. The actions of the 2nd September and continuous claims that no such application existed is still a shock to me.

Be it as it may, my sole ambition is to get the Cameron Farley clients back to where they were as at the 2nd September 2009. I am very disappointed that there are many people who have publicly stated on their private forums and other media that they intend to block any repayment vehicle I endeavour to put in place. Unfortunately this hostility is surprisingly being advocated by some Cameron Farley clients and their associates, who are suggesting that I am not honourable and will not make these repayments. If these attempts are successful, (sadly but too late) any post mortem will provide absolute documentary evidence that a legal repayment vehicle was in place and the capital commitment I cited was verified in writing and was for the sums indicated.

Firstly, please find attached a copy of the loan agreement revised by Cameron Farley which was agreed to by handwritten or electronic signature by you as an agreement holder. (If you became a new agreement holder at the time of issue you would have physically signed-up to these terms, while as an existing agreement holder you will recall that access to the Cameron Farley systems were disabled until your electronic acceptance to the new terms was agreed electronically.) I have also attached an explanation and clarification of the amendments to the original agreement, which formed part of the amended agreement terms. The terms clearly indicate that Cameron Farley has no legal obligation to make a repayment other than initial capital and 9.25%, however I believe that out of principle, I owe you a duty of care to ensure that clients do not suffer any financial lost and are returned to 2nd September 2008 balances.

I appreciate that you have received reports that I consider inaccurate and incomplete and do not contain key pieces of information that should also be reported to you. The fact that no effort was made to include these easily accessible and proven activities is baffling. As a result, I will include a number of documents which I hope will highlight my concerns regarding omissions in the reports.

Much talk and conjecture has been growing around EH2 Capital Ltd, with some clients even publicly stating that they are hell bent on destroying this new company. It is very important that Cameron Farley clients respect the fact that I have no ownership or direct legal involvement in this company. What this means is that, I am not an employee nor do I hold any controlling function or managerial role in the business. My wife Fiona Farley, who is one of the controllers of this company, plan to donate some of her net profits from EH2 Capital towards the repayment process of Cameron Farley clients, which will be donated to the trust established by me. The owner and the controllers of EH2 have gone beyond the normal requirements to ensure that:

1. This new entity meets all the regulatory guidelines in every jurisdiction in the world and can never be accused of conducting regulated activities when not authorised to do so
2. That all of the controllers of the new company have the necessary credentials and if they were ever the subject of any investigation by any regulator, could prove that all of the necessary actions have been taken to ensure that all activities have been checked and double-checked in order to fully comply in each jurisdiction
3. That all legal considerations including compliance, risk management, full transparency and due diligence are provided for in the corporate structure and delegated
to reputable lawyers, accountants and 3rd party service providers who have excellent track records and are experts in their field.

I therefore would like to strongly suggest that before posting derogatory statements on the internet, laying claim to EH2 Capital being a SCAM or/and a PONZI scheme, you think twice as such statements will result in legal action being taken. Some of the people advocating this campaign allegedly claim to be working for the regulator. I cannot believe that the FSA would stoop to such underhand measures in order to cause this furore.

I am taking absolute care to ensure that the planned repayment strategy meets all of the guidelines as set out in law. My decisions have been made on the basis that Cameron Farley (to be wound up) and I are on the blacklist of the Regulator and may be banned from ever conducting any regulated activity in the financial industry. I refer you to my attached letter from Hart and Shaw, who (in conjunction with WM Proserv) will assist me in repatriating funds to former Cameron Farley clients.

The contractual repayment will be between you, the ex Cameron Farley client, and a Fixed Trust to be established ASAP, (all former Cameron Farley clients will become fixed beneficiaries of that trust and will benefit to the tune of their 2nd September balances as reported). The trust deeds will clearly set out the terms and will provide the beneficiaries with the legal protections associated with a trust.

It is my intention to ignore any monies that are apparently going to be paid to Cameron Farley Clients from funds held in the Cameron Farley Natwest bank accounts and the sale of the Cameron Farley flat in Edinburgh. (We will classify this as a bonus payment for all of the inconvenience caused by the demise of Cameron Farley Ltd and will therefore not make any adjustments/deductions)

Contrary to some reports of lack of commitment, I am very focused on the tasks in hand and intend to maintain my efforts despite the hostilities I am encountering from some Cameron Farley clients, their associates and other 3rd parties. There seems to be a small number of clients who are trying to convince others via their public forums that my promise of repayment is a smoke screen and I am not committed to the cause to get your money back. Time will be the decider.

I know how urgent a repayment is to you, and we are in the same boat. Contrary to what some people think, we too have lost everything and are desperate for this repayment vehicle to work. I do not intend to fail, but if our failure is down to the Cameron Farley clients and their associates destined to destroy all credibility via the internet, then I hope you will hold these individuals responsible. It will certainly not be down to lack of purpose and hard work at our end.

Please do not hesitate to contact me at stephen_farley@btinternet.com should you need any further clarification.

Yours faithfully,


Stephen Farley

ritchieboy

e-mail from Stephen Farley

Dear Mr Farley

It has been brought to our attention that due to the fact that your spouse is the owner of EH2 Capital, that EH2 Capital has come up against severe speculation and in particular misuse of our website by clients of your company, Cameron Farley Ltd.

The British Virgin Islands Financial Services Commission has granted recognition of the EH2 Capital Fund as a private mutual fund. The fact that this is a private offering constitutes extremely tight measures when assessing whether or not to provide registrants with access to our website. The EH2 Capital Fund is not open to UK investors and therefore all UK registrants and retail investors will be denied access. To date we have already experienced many people trying to gain access by registering false information. Each registration is rigorously checked to validate authenticity. Given that many of your clients have tried registering with us has caused untold additional administration.

We have recently established that one of your Cameron Farley clients has gained access to the EH2 Capital website by registering false information. He/she has then gone on to distribute this information. We immediately deactivated this person’s access to our website and have reminded them of the terms they agreed to when registering. However, in an attempt to kerb further such actions, we would also like to point out to you that it is an offence to:

Provide false information when registering
Distribute intellectual property without gaining permission from the owner

As Director of Cameron Farley Ltd, it is your obligation to ensure that this barrage of inquisitiveness and onward transmission of EH2 Capitals details are brought to a stop. Such speculation can be very damaging to our reputation and we therefore take such matters very seriously.

Sincerely,


Investor Relations Team
EH2 Capital