A very interesting investment - Invest in Care Homes

jimjames

saverjustice wrote: »

Don't waste your time on detail, just tell the FSA.

Absolutely and the sooner the better. They can then do their own checks but if there is info to get them started that might speed them up.

GomerPyle

I sense a frustration with me and I understand the reason for it jimjames, but there is method in my tactic. There are entities involved in this who should know better and if I just make a formal report to the authorities nothing more may be heard and I want the facts to be in the public domain, even if that means I have to be cautious in what I divulge.

I am still researching and collecting information, and it might be possible to get publication, as it bears so many similarities to the 'boiler room' operations which have been recently broken up.

Allow me to introduce some more characters to the scene.

A company by the name of Vivid International Property Ltd has been promoting this investemnt and it appears on this page of their website

http://www.vivid-international-property.com/category/search-countries/united-kingdom/?submit=viewf

clearly tagged to 'Invest in Care Homes' but puzzlingly referring to a proposed care home in Southampton.

Investors are offered the opportunity to invest in a partnership seeking to generate attractive returns through building, operating and ultimatelyselling as a going concern, a 60 bed care home in Southampton, Hampshire.

and it does add

Investors enjoy the comfort of direct ownership of both the land and the buildings through the structure of the Limited Liability Partnership (LLP).

but there is no clarity as to what property or company that is, as the only company mentioned is dormant.

More bizarrely the investment website has streamlined the investment process to make it appear more like an advanced payment scheme to reserve a place in the home.

Steps One:
Contact Us

Steps Two:
Reserve your room

Steps Three:
Pay deposit via solicitors and exchange contracts

From the name of the company you're dealing with, to the property involved and who or what you're investing in is hopelessly confused.

To make matters worse Vivid International Property Ltd state on their website

Independent Operator authorised and regulated by the FSA

which is untrue, as the investment company specifically states that it isn't authorised or regulated by the FSA and directs investors to an advisor at a company that they say is, but neither are.

My own opinion is that I would not take advice from a person with Mr Greaves past history under any circumstances, and it would be expected that his credentials should be more accurately recorded by those recommending him.

saverjustice

There is nothing to stop your publishing your findings after telling the regulators!!

jimjames

saverjustice wrote: »

There is nothing to stop your publishing your findings after telling the regulators!!

And remember that Google indexes these pages regularly so if anyone was searching for information about a care homes investment scams then any details that could assist others searching for such a term could be posted on this thread if it would help them decide whether to invest.

It would appear from the details posted that someone convicted of dealing while not authorised by the FSA, using dormant companies and fake claims about locations and authorisation could reasonably be considered to be operating such a thing.

From a quick look at the website it appears they are selling rooms in the home to investors and then let them out to residents. I've never heard that of being a way to fund care homes. Vivid International Property Ltd looks like it is a genuine company selling property so contacting them to make them aware of the background of the people they are promoting may be a more effective way to get the details removed than the FSA.

saverjustice

OOPS should read before I jump

Yorkie1

jimjames wrote: »

Either way it is a very good warning to people to make sure they know what they are investing in. From your link it appears Mr Claude Clifford Greaves has previously been convicted of:

Conspiracy to carry on a regulated activity whilst not authorised by the FSA or exempt.
Total Sentence : 5 Years 6 Months
Likely Release Date : 25/1/2012

Specifically, this sentence cannot relate just to that offence as that offence carries 2 years maximum.

http://www.thelawpages.com/court-cases/Claude-Clifford-Greaves--3104-1.law is the link there for the overall offences, sentence & summary.

According to that, he was convicted after trial of money laundering, the conspiracy to carry on a regulated activity whilst not authorised - but not guilty of conspiracy to defraud - and conspiracy to communicate an invitation/inducement to engage in investment activity whilst unregulated.

It also says he has previous convictions - false accounting and and aid/abet fraudulent trading. Whilst in prison for those offences, he set up the fraud which is described above.