Investments gone bust

mositt

I have just discovered that at least one of the companies that I invested around £50K in alleged new movies has gone into receivership with millions of pounds missing. anyone know how I can check out the other three companies or how I can get my money back before they skip the country too? Also lost £10K on a rare earth metals scam last year. Am at my wits end. M

droopsnoot

Unfortunately investing in film production companies is rife with either good intentions that go nowhere, and outright scams. Have a search around here for the other companies by name, quite a few have been discussed before. You may also find a group of other investors in the same schemes might be able to offer more specific advice and get more success if acting as a group.

bowlhead99

This sounds like it might just be a wind up, but if it isn't, why not contact the companies in which you are invested and enquire about their financial status? Presumably with £50k invested (if the loss of £50k is enough to put you at your wit's end), then you have been monitoring their financial health and performance on an ongoing basis?

In terms of getting your money back from them, check the paperwork that explained the terms of your investment, to see what the potential exit mechanisms are.

If you believe you are owed a debt by the company in receivership, make sure you contact the receiver. However, if you are not a secured creditor and millions of pounds is 'missing' then best not to be too optimistic.

If you were advised to make the investment by a regulated professional, make a complaint.

Advice for the future would include not investing in unregulated investments that you don't understand.

dunstonh

Am at my wits end

So, why did you invest in very high risk unregulated schemes that tend to either do very well or go completely belly up?

how I can get my money back before they skip the country too?

ask the companies you invested with.

Reaper

mositt wrote: »

I have just discovered that at least one of the companies that I invested around £50K in alleged new movies has gone into receivership with millions of pounds missing. anyone know how I can check out the other three companies

It would help if you told us what the name of the companies are.

Also lost £10K on a rare earth metals scam last year.

In each case I bet you were persuaded to invest in unregulated companies you had never heard of before by a cold call. I have lost count of how many times I have warned people not to do this.

If anybody cold calls you wanting money (and they will as by now your name will be on a so called "suckers list" and will have been sold on) just put the phone down.
And if anybody cold calls you offering to get your lost money back that's a scam too.

atush

mositt wrote: »

I have just discovered that at least one of the companies that I invested around £50K in alleged new movies has gone into receivership with millions of pounds missing. anyone know how I can check out the other three companies or how I can get my money back before they skip the country too? Also lost £10K on a rare earth metals scam last year. Am at my wits end. M

This post beggars belief?

Why would you invest 50K into one, risky thing? And to back it up you have invested in other highly risky things like REM? How did you choose these- from a cold call?

Have you ever heard of funds, investment trusts? Bonds even? Geez

Thrugelmir

atush wrote: »

Why would you invest 50K into one, risky thing?

Greed.....

Mr_Prudent

Could it be related to this?
http://www.thisismoney.co.uk/money/experts/article-3166363/TONY-HETHERINGTON-s-Henry-5-Two-plot-spicier.html

Aretnap

The OP's profile lists his occupation as "Personal Adviser". I hope the advice he gives his clients is better than that he gives himself.

atush

You can hope all you like, but if the OP is true- run a mile.