BMG Browne Mackenzie = Fraud?

Jaz_M

In response to the blogger 3Whippets, yes l have invested with Charles barkley, in land within Cullumpton, Devon, this compnay too now has gone pear shaped and being investigated by London police, some investors have had their deeds but others have not, the land itself is not worth the original paid for value, nor is it likely it will get any development permission.
Are there any other investors in this area of cullumpton who went with the company, i would like to organise a group so we can take legal action, as it was sold with the intentions of development.
Within this Thread, it is mentioned the police arresetd a man from Bromley in conjunction with Browne Mackenzie, one of the directors of Charles Barkley is from Bromley too, is there a link ?
If you are also a victim you MUST report this to Action Fraud online and the FSA, and send me an email via this forum.

Jaz_M

Please Note the people behind this landbanking scam were this month convicted :-)

As I cant post a link, please see City Of London Police website, News & Appeals menu, article title "Career criminals jailed".

SerialRenter

Jaz_M wrote: »

As I cant post a link.

http://www.cityoflondon.police.uk/news-and-appeals/Pages/Career-criminals-jailed.aspx

Good to hear it's finally resolved four years on

Fraudsters who made millions by persuading hundreds of elderly investors to buy worthless plots of land and valueless carbon credits have today been jailed to four years and eight months each and disqualified from being company directors for ten years at the Old Bailey.

Between 2005 and 2010 Matthew Noad and Clive Griston, both from Kent, ran a London-based boiler room which took in more than £10 million from victims conned into believing they would make returns of several hundred percent from sites across the UK that were ripe for housing development.

In reality the land, located in Dumbarton in Scotland, Towcester in Northampton and Collumpton in Devon, had little or no value, with much of it situated in greenfield belts, flood zones or areas of historical or environmental significance with no prospect of planning permission.

The City of London Police, which is the National Policing Lead for Fraud, first got wind of the scam in 2010 when they started seeing more and more reports from people concerned about investments they had made in three companies – Browne Mackenzie, Lawrence Taylor and Charles Barkley.

Having launched a nationwide investigation, supported by local forces, detectives arrested Noad, 30, and Griston, 52, In December of that year in Bromley on suspicion of conspiracy to defraud and money laundering.

But once released on bail the two men moved quickly to set-up a new boiler room in the City of London, this time to sell valueless carbon credits.

As with the land banking fraud potential investors were initially contacted by cold-callers promising high percentage returns, with those expressing an interest bombarded with further calls and sent glossy brochures promoting the benefits of signing up to the scheme.

It was also suggested that the new company, Capital Carbon Credits, had entered into discussions with a large supermarket chain interested in purchasing the credits at a premium price. This, like nearly everything else told to investors proved to be completely false.

Between August 2011 and December 2012 Griston and Noad made another million pounds, all of which was swiftly spent before they were arrested for a second time by the City of London Police in September 2012.

In December 2013 they pleaded guilty to conspiracy to defraud.

Many of Griston and Noad’s victims, in both the land banking and carbon credit frauds, were well into retirement with no prospect of ever being able recoup the money they had lost.

A blind 89-year-old man from Cardiff was reported to have paid £94,000 for plots of land in Dumbarton. He was told the area was primed for development when in reality it had been earmarked to be designated greenbelt land by the local council.

An 87-year-old retired teacher, living alone, invested £87,000 with Capital Carbon Credits, telling how she was continually pressurised over the phone into handing over more and more of her savings until there was none left to give.

Ultimately she, like many others, lost everything, with detectives finding evidence of Griston and Noad blowing more than £100,000 alone in a City-based jeweller.

Detective Inspector Nigel Howard, from the City of London Police’s Fraud Squad, said:

“Griston and Noad are professional criminals who dedicated much of the last decade to running boiler rooms that specialised in conning elderly investors out of money that should have been there to support them in retirement.

“The pair pocketing millions, firstly by selling plots of worthless land and then later switching to valueless carbon credits, while showing no care for the damage being done to their victim’s lives.

“Unfortunately not all who fell foul of Griston and Noad have lived to see justice being served, but hopefully the news of their imprisonment will provide some comfort and closure to their families and all the other victims who were ruthlessly targeted and exploited over the phone while being in the apparent safety of their own home.”

Since 2008 the City of London Police has been the National Policing Lead for Fraud, investigating some of the most complex and damaging national and international investment frauds.

DI Nigel Howard added:

“The story of this multi-million pound scam should also serve as a serious warning to anyone who has been cold-called and is now considering investing in a scheme promising significant returns. To protect your savings and your future it is vital that next time you are called you put the phone down straight away and having nothing more to do with people who promise everything and deliver only misery.”

BitterAndTwisted

"Jailed to four years and eight months each".

Doesn't seem like very long sentences considering how much they ripped people off for and the abject misery they have caused. I daresay they see their sentences as an occupational hazard and have secreted most of their ten million beyond the reach of the authorities

Running_Horse

Two and a half years inside with £10,000,000 waiting in an offshore account when I get out? Sounds like a good career move.

Did anyone get any money back? Are they still holding onto their deeds in the hope of getting planning?