BMG Browne Mackenzie = Fraud?

sarduff

Hi Matt, have just read your message and my father has also invested large amounts of money with this so called company!!!! I am horrified to think that this money could be lost. Can you let me know what you have done so far please, as I am not sure what to do next.

Many thanks
Louise

biffter24

These guys hounded us by telephone for weeks, in the end we put the phone down. they then started ringing the managing director at his home requesting to speak to his wife. They would not take no for an answer and had 4 calls within the hour that involved some heavy shouting and swearing from both sides, before the police were called. its been over 24 hours now and we havent had another call yet!!! my advice is stay away!! I googled brown mackenzie scam and found that
The Financial Services Authority (FSA) issued a warning against Mr. Browne Mackenzie that he is not authorized by the FSA to conduct regulated activities. cant post link but it can be made from www. regulatorycomplianceblog.com/2010/07/09/united-kingdom-fsa-warns-against-brown-mackenzie/

sarduff

Hi Biffter24, If only we had done the same as you and ignored them. We are seeing a solicitor on Tuesday next week to see of there is anything we can do.

I cannot believe that in this current climate of 'alleged' bank regulation review that a company can get away with doing this sort of thing....it would NEVER happen in any other country, only here!

Has anyone on this board taken any action against BM or is in the process of doing so?

Kind regards

Mum_of_3_3

Sounds like the scam that took place using land near us http://www.thisissomerset.co.uk/crewkerne/news/Property-buyers-lose-farm-land-bank-scam/article-627973-detail/article.html

So sorry your Dad fell for this scam, I hope he gets some of his money back, although I really wouldn't hold your breath

M_o_3

MobileSaver

sarduff wrote: »

I cannot believe that in this current climate of 'alleged' bank regulation review that a company can get away with doing this sort of thing....it would NEVER happen in any other country, only here!

Land scams happen in lots of countries and have been going on for over 100 years, see Florida swampland scams for something similar in the USA.

This is genuinely not a dig at your father but I don't understand why anyone would hand over thousands of pounds to a complete stranger without doing their own checks first. So long as people continue to do so scams will carry on ad infinitum.

Your father needs to see a solicitor ASAP and show him all the documentation he was given that persuaded him to invest his money. Unfortunately you both need to be realistic that it is highly unlikely he will get much, if any, of his money back.

lossclaim

We have a client who invested money with Brown Mackenzie in 2009 just before died. We are tidying up his tax affairs and wonder anyone has yet persued a capital loss claim with HM Revenue & Customs for the losses which appear to have been sustained ?
Unfortunately we have no paperwork for this investment and so are not sure what form our clients investment took ie interest in underlying land or whether he was subscribing for share of some sort.
Any help would be appreciated

ILW

I cannot see why it is a scam. It appears "investors" have bought land at an agreed price and if they now have title to that land then no fraud is involved.

GDB2222

ILW wrote: »

I cannot see why it is a scam. It appears "investors" have bought land at an agreed price and if they now have title to that land then no fraud is involved.

It may not be fraud, but it is a scam. These firms wildly exaggerate the chances of getting planning. They also simply lie - I phoned one firm up and they claimed to have taken several of these projects through to the rezoning stage. When I pointed out that this was quick work as the company had only been trading 5 months, they clammed up and stopped trying to sell to me. Of course it's a scam! But in any case, I can't see any point in having a long discussion about the precise word used to describe these tricksters.

ILW

GDB2222 wrote: »

It may not be fraud, but it is a scam. These firms wildly exaggerate the chances of getting planning. They also simply lie - I phoned one firm up and they claimed to have taken several of these projects through to the rezoning stage. When I pointed out that this was quick work as the company had only been trading 5 months, they clammed up and stopped trying to sell to me. Of course it's a scam! But in any case, I can't see any point in having a long discussion about the precise word used to describe these tricksters.

True, but the only people that will fall for it are ones that are expecting to get something for nothing, in the end punters are just pulled in by their own greed.

mynameisdave

The plots in Nantwich were going for £10,000 a pop. I remember seeing loads of adverts for them (always came up in local searches for me as I'm in Cheshire too)