store first

Jona325d

Hi,

Has anybody been contacted recently by a company based in Dubai regarding the potential sale of their storage units?

Thanks

Simon

Malthusian

Probably. Fraud recovery fraud is extremely common.

The pods are worthless and nobody wants to buy them. Anyone claiming they want to buy your pod will almost certainly ask you to send them money for "legal fees" or such like, which you will never see again.

JKWalker

Malthusian wrote: »

Probably. Fraud recovery fraud is extremely common.

The pods are worthless and nobody wants to buy them. Anyone claiming they want to buy your pod will almost certainly ask you to send them money for "legal fees" or such like, which you will never see again.

My view too - frustrating as so many want to get rid, and so when somebody turns up offering to buy, it's difficult not to get hopeful.

Disgruntledinvestor

I invested over £125,000 with them over 5 years ago , I submitted my buyback agreement , (be warned you must have the original signed document or they bounce it ) and submit in a specific 30day window or you miss-out.
I received an email to say the buy back by them is optional and it can take up to 5 years .
I have 2 SIPPs and Cash invested , Im concerned that I wont get it back after reading this and other blogs.
Positive , I received the promised 24 month 10% payments
Negative , not really much after that, unless I phoned up and complained.
No Guarantee of the buy back , why would you invest if that was the case , this was not explained to me .
No Guarantee they will rent out your store pods , you can rent them out yourself.
Difficult to obtain information / updates etc. unless you chase
Expensive Ground rent charges which negate all if not more of your rental charges -ve equity


conclusion : there are better investment opportunities out there , I'm getting 13-16%pa invested in a standard FTSE100 Investment company .

Disgruntledinvestor

I invested over £125,000 with them over 5 years ago , I submitted my buyback agreement , (be warned you must have the original signed document or they bounce it ) and submit in a specific 30day window or you miss-out.
I received an email to say the buy back by them is optional and it can take up to 5 years .
I have 2 SIPPs and Cash invested , Im concerned that I wont get it back after reading this and other blogs.
Positive , I received the promised 24 month 10% payments
Negative , not really much after that, unless I phoned up and complained.
No Guarantee of the buy back , why would you invest if that was the case , this was not explained to me .
No Guarantee they will rent out your store pods , you can rent them out yourself.
Difficult to obtain information / updates etc. unless you chase
Expensive Ground rent charges which negate all if not more of your rental charges -ve equity


conclusion : there are better investment opportunities out there , I'm getting 13-16%pa invested in a standard FTSE100 Investment company .

dunstonh

Positive , I received the promised 24 month 10% payments

It isnt genuine income though. Its using other investors money, as they sign up, to pay those already signed up.

conclusion : there are better investment opportunities out there

You need to be stronger wording it than that. i.e. there are not many worse options out there but there are plenty better.

I'm getting 13-16%pa invested in a standard FTSE100 Investment company .

That would also be bad investing if in isolation of other holdings.

golmaal

Hi

I have just completed and returned by 5 year buy back agreement. Only time will tell if I receive my returns. I am a cash investor so wish me luck.
I was cold called by a third party who I cannot reach anymore.

To tell you the truth I have already written it off and forward my case to a No Win No Fee solicitor.

jimleck76

Hey peeps has everyone has there letter about you now having to pay business rates just another. Bomb dropped from this scam

dbrunton

Until I came across this forum, I thought that only people in Asia we victims of this scam. I supposed that those in UK would be under the protection of the law of the country where the operation was based. I thought, it is easy to rip-off overseas investors as we have little recourse to get on a plane, stay in a hotel, look for lawyer, pay a lawyer, and get in involved in a legal process.

I thought I was alone, but I am not. Nor are the investors in the UK.

I had some trepidation about investing in a non-regulated sector, but my local investment adviser gave me some confidence. Fortunately our investment was only dipping in a toe, 7,500 pounds.

I guess we received some of that back in interest payments the first couple years so they only got us for 6,300. Scam or not, I think their plan was to get the investors foot the entire cost of building the facilities, and then eventually would carry on with the facility. If the building cost them nothing, they can own some portion of the units, and with those, pay operating costs and continue to profit. And with a friendly third party they could even buy back the units for a fraction of what they sold them for.

This is mere speculation, but apparently they have not closed the doors on the place and declared that they are bust. So they have already enjoyed fine wine and dining for a few years, so my question is, why are they still hanging on. Answer there must be something of value there, and they are biding their time to get their greedy hands on it.

They think they have time, because the investors are a widely dispersed group, not to mention investors in Asia. We are powerless as individuals. But I wonder if as a group, we might be more formidable.

Just looking through this this string of posts over a period of a few years, I can see investors have lost over a million quid. This must just be the tip of the iceberg.. If we could identify all the investors as a group, we have a group the is out 10, 20, 30 million. Maybe more.

Put all of these investors together, form a cooperation, later a corporation, then later perhaps we could find a way to pursue a multi million pound legal action against all the defendants. They are all just walking the street with not a care in the world. That is not right. And they are not invulnerable to a coordinated action by an organized group.

Anybody interested?

DB

sheffield61

I am happy to stand corrected, Storefirst Ltd is a total scam, as are all the companies linked to this company......

Where to start.....

1. In June 2016 the FOS instructed my then SIPP trustees, Stadia trustees Ltd, to repay me my entire pension value of £104,000 invested into storefirst. Instead of doing this Stadia ignored the FOS instructions and went into liquidation. In Feb 2018 the FSCS awarded me £50,000 against this joke of a SIPP trustees......

2. In Nov 2017 the SFO visited me to do a recorded and extended home interview into these investments. The Serious Fraud office tell me that the scale of the scam here exceeds 500 Million Pounds and is the biggest case they have ever invested.....

3. In Feb 2018 the SRA visited me to do a recorded home interview into the now struck off [for dishonest practices], Hetherington solicitors of Hoylake. Much of the money mentioned above has flowed through this rogue solicitors books....

4. My legal redress v this firm of solicitors is now with the Courts, I expect my court date to be issued very shortly. My claim against this pair of thieves is for my £104,000 pension, £53,000 in lost interest and my own sides legal fees.....

5. The UK GOV has issued x4 Court petitions to close Storefirst ltd down, this will reach the Courts before the end of 2018 I understand.....

After a four year battle I see much light at the end of the tunnel at last. I would hope people do not give up and I am happy to supply more detailed information, once my own claim is concluded shortly.....


John in Sheffield....