Cartel?

happybroker

This is the reason I mentioned the fact that the info was given to me during a recruitment event. I could post the address (short term office space in Leeds) and rough date also if Cartel start getting arsey about it.

Dan_1976

Cartel got arsey in 2007 or 8 I think, pretty sure mse is the last thing they are worried about!

Dan_1976

IT must have been Late Jan, 2007 I got the email from MSE.

Leon_W

OH JOY OF JOY

Cartel Client Review have been suspended by the Ministry Of (In)Justice so the ripping off of people for millions of pounds can finally cease !

Too little and far far too late !

VIGILANT22

Leon_W wrote: »

OH JOY OF JOY

Cartel Client Review have been suspended by the Ministry Of (In)Justice so the ripping off of people for millions of pounds can finally cease !

Too little and far far too late !

:T:T:T:T:T..............Congratulations to CW

I have been waiting for this day since 2007!!...:j

dunstonh

shhhh. There is a thread running in the claims section but keep it quiet as the board havent removed it yet!

FraudBuster

In an interview with today's Daily Mirror, Carl Wright said his firm had taken about £20m in fees from customers, but said: "The money is not available to be able to be refunded back to the clients."

http://news.bbc.co.uk/1/hi/business/8574956.stm

ackaboosie

Very Confusing???

Leon_W

What is confusing ackaboosie ?

The fact that money isn't available to refund clients ? This was always going to be the case from day 1 !

You pay your £495, of which a good slice goes in commission to the agent, the rest went to Cartel who spent it on marketing, director salaries and the high life. The money is not available to be refunded to the clients because there is no money - it's long gone.

Setups such as this always rely on a stream of new victims to join in at the bottom, and when they dry up, the whole sorry lot comes collapsing down.

Trying to play devils advocate here abit, but perhaps Cartel WAS set up with honourable intentions at the beginning, but with the lack of legal success with claims and judgements going against them it quickly became apparent that 90% of the claims they were dealing with had no prospect of success. By this time they were in too deep, had no plan B, and could only continue in the way they had been to keep all these agents happy and bring in the cash.

I don't know if this is the case or not but are agents liable for the clawback element of commission ? Cartel could be in a strong position to sue agents if that is the case to return commission, collect even more cash, and STILL not reinburse clients !

VIGILANT22

[QUOTE=Leon W;


I don't know if this is the case or not but are agents liable for the clawback element of commission ? Cartel could be in a strong position to sue agents if that is the case to return commission, collect even more cash, and STILL not reinburse clients ![/QUOTE]

This was never set up properly.... when it has been revealed the solicitors did not have insurance in place to cover it in the event of failed court cases....what due diligence could have been conducted!?

I would love to see clawback on those wretched IFA's and mortgage advisers who took part in this "scam"....every one of them should be deauthorised and the clawback go back to their clients...lowlifes the lot of them...