8.05% Rolling Account One Year Notice from Friends Mutual

gadgetmind

don_giovanni wrote: »

I’ll leave you to continue “investing” in hot air.

Great, thanks, that's much appreciated.

gadgetmind

don_giovanni wrote: »

Google wouldn't list them without seeing the insurance.

That's close to the most hilarious thing I've read so far this year!

The 25% pa from property claptrap is a close 2nd.

gadgetmind

jimjames wrote: »

Don has gone mysteriously quiet. Maybe he has realised he has been busted.

Cue 2nd newbie telling us great this is in 3 ... 2 ... 1 ...

innovate

190635 - City Endowments Limited

Current status: Authorised
Effective Date:01/12/2001
Tied Agent:
Undertakes Insurance Mediation:Y
Registered under Money Laundering Regulations:

Address:
The Stables
Church Lane
Lewknor
Watlington
Oxfordshire
OX49 5TP

+44 0845 190 1845
+44 0844 4141 261
[EMAIL="nalin_jay@hotmail.com"]nalin_jay@hotmail.com[/EMAIL]

Notices:Unable to hold client money.


http://www.fsa.gov.uk/register/firmBasicDetails.do?sid=43432

Reaper

The web site has only been in existence since September. They say they are wholly owned by City Corporation, the main address of which is just a virtual office available for a mere £98 per year.

mulronie

Reaper wrote: »

The web site has only been in existence since September. They say they are wholly owned by City Corporation, the main address of which is just a virtual office available for a mere £98 per year.

Look on the plus side, they've found an office in the West End for just £98 a year! Maybe they really are property geniuses!

Jonbvn

Mozart's Don Giovanni (a newbie) springing to the defence of these crooks was the deciding factor for me.

Don, thank you for confirming that this is a scam:beer:;)

innovate

I asked them for exact details of the LLoyds insurance policy. Jose Escalera, General Manager, Friends Mutual, tells me:

"Distributing copies of the certificate or policy is prohibited by the insurers. However, these have been seen by the NZ government department responsible for FML’s supervision, hence its inclusion on the website."

He attached a PDF apparently containing "...our statement with the regards to the wording in which the policy is explained." I shall be damned if I open that PDF, it probably contains a trojan.

ctdctd

innovate wrote: »

I asked them for exact details of the LLoyds insurance policy. Jose Escalera, General Manager, Friends Mutual, tells me:

"Distributing copies of the certificate or policy is prohibited by the insurers. However, these have been seen by the NZ government department responsible for FML’s supervision, hence its inclusion on the website."

He attached a PDF apparently containing "...our statement with the regards to the wording in which the policy is explained." I shall be damned if I open that PDF, it probably contains a trojan.

He has an interesting LinkedIn profile.
Office Manager, Assistant Hotel Manager for 8 years, and then switched to high power finance in February 2012 :eek:

http://www.linkedin.com/pub/jose-escalera/32/735/495

richard_auckland

Hi Richyg, yes it is totally unfair. They could offer their fantastic deal to New Zealand investors, but then they would have to do inconvenient things like issue a prospectus and have published, audited accounts. Making it open only to non-New Zealanders means that there is, in effect, no regulatory protection for investors in this outfit.

In my view, the likelihood of all investors getting back the money they have deposited with this outfit is very small. A telling sign is of a former director flying first class from NZ to the UK and back at regular intervals, his wife driving a porsche, and them all showing trappings of wealth. A pattern which will be familiar to many of you.

Anyone seriously contemplating investing with this outfit MUST make sure they get audited accounts first, signed off by a reputable auditor (either PWC, KPMG, Deloitte, or Staples Rodway). If the auditor is a one-man band from Pukekohe you know you are in deep trouble.