MSE News: Warning! Re-Give savings not protected

alanq

london2008 wrote: »

it's also the same telephone number used on

http://redaid.zzl.org/about.html

I am getting "Unfortunately the page you are looking for doesn't exist." with that link. Information can still be found with Google cache.

Redaid had a different Chelmsford address "220 New London Road" an address which has been used by a number of companies.
http://www.thecompanything.com/RegisteredAddress/HOLLY%20HOUSE,%20220%20NEW%20LONDON%20ROAD/1

innovate

They'll be glued to this thread and will by now have "cleaned up" their old trails mentioned on here.

soulsaver

ctdctd wrote: »

Glad to see other agree with my initial misgivings posted in the original discussion thread.
As I said - Buyer Beware!

Glad to see my even earlier comment was picked up...:)

http://forums.moneysavingexpert.com/showpost.php?p=54258165&postcount=81

ctdctd

innovate wrote: »

Thanks for the link, just filled in the form

Same here.

ashleypride

"Are you covered by the Financial Services Compensation Scheme (FSCS)?

No – but this does not mean that your investment is at risk.

Is the return of my money guaranteed?

No

Is the rate of return guaranteed?

No"

They appear to be passing themselves off as a fixed rate savings account, when clearly both capital and return has risk. The site stinks of ponzi.

alanq

Q&A with the Guardian. Nothing reassuring here.

http://www.guardian.co.uk/money/2012/jul/17/question-answer-regive-savings

The first time I have seen a name of someone associated with Re-Give.

I found 4 people named Abdul Muttakin Robbani here.
http://company-director-check.co.uk/director/908804906

Note three of these dissolved companies used Chelmsford addresses. Two of those being the former Redaid address.

dunstonh

alanq wrote: »

Q&A with the Guardian. Nothing reassuring here.

http://www.guardian.co.uk/money/2012/jul/17/question-answer-regive-savings

The answers seem evasive and the questions were not probing enough.

alanq

Guardian article raises more concerns including...

"ReGive also claims on its website to be partly seed-funded by Lord Joffe,"..."But although Joffe funded a previous charitable project run by ReGive's founder, Abdul Muttakin Robbani, he denies providing capital to ReGive "

http://www.guardian.co.uk/money/2012/jul/17/savings-high-returns

gadgetmind

It's a sign of the times that you can draw people into this with the promise of a mere 5% return and no guarantees.

ctdctd

Re-Give / Redaid said they had asked to be removed from the Charity list as their project had finished.

From the Guardian article. the Charity Commission said:-
"The Charity Commission opened a statutory inquiry into RedAid (now removed charity 1108615) in December 2011 following serious concerns raised about its governance. The inquiry is ongoing and in accordance with our policy a report will be published on our website at the conclusion of the inquiry."

I believe I said in the earlier thread.

Run, run away!

I would add "really fast"!

Scamity scam scam :eek: