Cameron Farley, FSA & Grant Thornton

ritchieboy

I wont just dump all the e-mails I have had from SF, this is the last until more are relevant. This is the private repayment vehicle intended to repay the creditors.

We would like to introduce you to Invest In Car Parks (ICP) who offers a new but well founded concept in Strata Leasing. ICP offers lease ownership in single or multiple spaces car parks with an attractive and stable quarterly return and yield.

ICP put together the site owners, management companies, and lease holders, to form safe, secure, high yielding commercial investment opportunities, with a guaranteed fixed income or capital appreciation.

ICP manages the legal ownerships created from dividing existing and off-plan UK car parks into strata lots, each receiving its own certificate of title. Title is passed to each lease holder via a title deed and, legal protection is provided via the lease.

We hope you find this opportunity of interest and look forward to discussing it further with you.

If you require any further information please feel free to contact us at invest.carparks@googlemail.com


Kind regards,

Stephen Farley
On behalf of ICP

Reaper

I hope all those emails do not mean you were planning to give Mr & Mrs Farely any more of your money to invest. Don't throw good money after bad. On past form I'd guess his "repayment vehicle" will involve making wild gambles with investors money to try to dig his way of debt.

ritchieboy

No no no, that man will not get anything from me. I have a few suspicions and thoughts, so will have to get in touch with the right people and see whats what. I do have half a mind to pretend to be interested, wouldn't mind meeting with him!!!

wantanswers

Reaper

That’s the confusion.

They never did get registered but I believe the FSA state that the registration application ref. Quite clearly shown against CFL was NOT for that company.

I believe a creditors meeting was held on the 18 November but not seen any minutes as of yet which is quite unusual.

Hi Richieboy NO money forthcoming until possibly May/June next year, whatever that might be, less rather than more i think. More money (once bitten twice shy). FSA answers will help anyway they can be gotten.

wantanswers

Recent comments from the FSA

He also failed to take remedial action identified by two compliance consultants and the FSA, the regulator said.
‘This is a blatant example of a business man taking insufficient interest in the conduct of business written in his name and ignoring repeated warnings about its deficiencies,’ said FSA director of enforcement and mortgage crime Margaret Cole.
‘He failed to treat his customers fairly and we are holding him to account for it.’

In our case who holds the FSA to account after they failed to take remedial action after they identified issues in 2007. This is a blatant example of complacency by the FSA that allowed innocent investors to lose £millions says a disgruntled CF investor.

FSA_Legal_Action

We Do

www. FSA UK Legal Action .com

The Cameron Farley Action Group is in its infancy but is more than up to the challenge of demanding answers whether by asking, petitioning, suing, or indeed protesting and we will obtain at the very least that our plight is ACKNOWLEDGED and ADDRESSED by government even if we have to go to Brussels to make that happen.

We have an FSA Compensation forum for clients of Cameron Farley who are still in disbelief that an organisation as powerful as the Financial Services Authority can wade in and freeze the assets of a company, leaving one rather big stone unturned. That stone was the Gain platform which the FSA were made aware of in 2005, which had around $17 MILLION sitting in it on 2nd September 2008 at the time of the FSA injunction. Nearly the entire funds were lost on that Gain trading platform AFTER the FSA stepped in and took legal control of Cameron Farley Limited.

So the question is not whether they will pay those funds back to the client repayment pot, but WHEN.

It's time an independent inquiry was instructed to look into the actions of the FSA in all this, and force them to pay back the losses they presided over. Then we will come to the subject of compensation for the sheer misery caused by THEM in their reckless behaviour with OUR money (in my opinion and express it I WILL)

RayWolfe

Classic!
People "invest" in unregulated financial activity. It goes belly up and it's someone else's fault.
Let's have a public enquiry, paid for by the rest of us.
Let's have our money back, paid for by the rest of us.
Take responsibility for your own action folks.

dunstonh

The Cameron Farley Action Group is in its infancy but is more than up to the challenge of demanding answers whether by asking, petitioning, suing, or indeed protesting and we will obtain at the very least that our plight is ACKNOWLEDGED and ADDRESSED by government even if we have to go to Brussels to make that happen.

Firstly, I sympathise with those that have lost money but I disagree the FSA should pay out. The FSA is funded by companies and individuals registered and authorised by the FSA. So, any pay out would have to come from money funded by them. Why should regulated companies have to pay for individuals that chose to use a non-regulated company? It would be like asking an insurance company to pay out to an uninsured person who was burgled. Or perhaps getting all their neighbours to pay for replacement.

Reaper

Another one? The last time I looked forums discussing Cameron Farely were not in short supply. What was missing was anyone taking action or more importantly discovering whether action was practical.

If the FSA is not liable then even if you could prove the FSA made errors it is pointless to pursue it if the only outcome is to get a member of staff disciplined. That won't get your money back.

Mr Farely apears to have found a way round the freezing of assets and made one last reckless gamble with the remaining money left in a trading account, and ended up pretty much losing the lot. Your argument is the FSA is liable but I suspect it is more likely the courts would judge Mr Farely is. The only way to discover the answer is to seek legal advice rather than endlessly bicker on forums.

wantanswers

Your argument is the FSA is liable but I suspect it is more likely the courts would judge Mr Farely is.

Are you speaking from experience?