Pension Advice

Home_Counties

I note that Quadris have issued a new Shareholder Update (April 2015). The first since October of last year.

RobSouthey

Any ideas what Quadris is worth , not the NAV they publish, but sale value ?

RokerP

Well, whatever Quadris is worth, it is about to reduce by around 40%. See their September 2015 shareholder update for some very bad news. For those also in New Earth, there is an October update. More bad news. The energy part of the business has been disposed of for not much money by the sound of it. "no material cash consideration". They are "unable to provide any indicative value for investors" for the remaining recycling business.


So we have no idea what our funds are worth. But in any case they are both still frozen. I have realised that both these companies are IOM based and have John Bourbon as a director. Make what you will of that.

Hippo1957

Todays news regarding PCD wealth,Mark Kelly and Patrick Gray should be read. Patrick Gray still advising people out of Dubai.
Please visit the FCA website and follow the 'FCA bans two individuals for lack of integrity'
This explains the whole scam involved.

RokerP

Thank goodness someone is posting again. After all these years something is finally happening. Citywire have a ten screen report on the whole affair. There are some IFAs on there who are not so happy but I don't think they understand what we are going through. Apart from my last post about Quadris, check the New Earth website. Going into administration so not much chance of seeing any of our money there.

Hippo1957

Important to read this FCA bulletin as some of the so called advisers have resurfaced in Dubai. And guess what..they are still advising investors with a so called CII (Chartered Insurance Institute) certification. Maybe his so called "exceptional knowledge of structured investment which provides high level of capital protection, and his ability to give solid advice to both new and experienced investors" should be challenged.

RokerP

How did you track this down? I have Googled him in Dubai and it comes up with a company called Globaleye. Are you sure it's the same person? Thanks for bringing this up.

Hippo1957

Yes. It is the same person. I wonder if Globaleye are aware of this FCA report..!

Home_Counties

I can confirm that Patrick Gray is now working in Dubai. I know this through my own investigations and from another source who I trust.

Hippo1957

It is amazing that these type of banned and untrustworthy financial advisers continue to be employed. Why do employers such as Globaleye not do background checks on such individuals who have no integrity and worse. Perhaps Globaleye's Compliance department needs notification before he repeats the scam on other unfortunate and unsuspecting individuals.